According to Steven Mnuchin, the US Treasury Secretary, there will be an interagency group of regulators reviewing cryptocurrencies and the impact it has on the US financial system.
Treasury Secretary Steven Mnuchin said Friday that an interagency group of regulators is reviewing the impact of cryptocurrencies like Bitcoin on the United States financial system.
Mnuchin, during an interview at the Economic Club of Washington, said that the Financial Stability Oversight Council (FSOC) created a working group to examine digital currencies like bitcoin.
Mnuchin stated, “We want to make sure that bad people cannot use these currencies to do bad things.” Mnuchin said the U.S. will work with G20 nations to ensure cryptocurrency accounts don’t “become the Swiss-numbered bank accounts” known for their secrecy. “There’s a lot of speculation in this,” Mnuchin said. “I want to make sure that consumers who are trading this understand the risks, because I am concerned that consumers can get hurt.”
From The Hill: https://tinyurl.com/y9blsjlq