U.S. Treasury Secretary: New FinCEN Requirements for Cryptocurrency Will Be Released
[ChainDD report] February 13 (ChainDD) According to The Block news, U.S. Treasury Secretary Steven Mnuchin told Congress on Wednesday that the U.S. Financial Crimes Enforcement Network (FinCEN) will release new requirements related to cryptocurrencies.
Mnuchin did not offer many details in his speech but he remarked that, “specifically on cryptocurrencies, we are spending a lot of time on this, on both an interagency basis and with the regulators." No more details were given regarding when the move will be carried out. He also added, “We want to make sure that technology moves forward, but on the other hand, we want to make sure that cryptocurrencies aren't used for the equivalent of old Swiss secret number bank accounts,”