Federal Supervisory Bodies To Announce New Cryptocurrency Laws

For two years now, President Trump’s regime has not commented about cryptocurrencies.

But late last month, the US Secretary for Treasury, Steven Mnuchin said that US supervisory bodies will likely announce new crypto laws. The Treasury secretary particularly said these that these additional set of laws will ensure digital currencies do not impact negatively on the present monetary system.

Mnuchin’s is voicing his concerns at a time when President Trump’s admin is beginning to pay attention to digital currencies. The administration has been skeptical about crypto and it seems like the news about Facebook’s new digital coin— the Libra— has stirred things up once more.   

“The authorities will scrutinize all cryptocurrency assets and do an in-depth analysis of the asset class so we should expect more laws,” Mnuchin said. “Our goal is to ensure a standard approach and that will mean more rules from all the supervisory bodies looking into the matter.”

Unclear Motives Behind the Regulations  

According to CNBC, a group of US watchdogs have admitted to play a part in the change in crypto rules; two of the names listed include; (1) Securities & Exchange Commission (SEC), and (2) Commodities Futures Trading Commission (CFTC).

But the move to … Read More

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