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Us Treasury Department: "all cryptocurrencies on the territory of the United States, must comply with regulatory requirements»

Us Treasury Department: “all cryptocurrencies on the territory of the United States, must comply with regulatory requirements»

Us Deputy Treasury Secretary Sigal Mandelker said that all cryptocurrencies available in the US must meet regulatory requirements.

“The Libra cryptocurrency project, which is being developed by Facebook and other cryptocurrencies available in the United States, must meet the highest standards for countering money laundering and terrorist financing,” said Sigal Mandelker, Deputy Secretary of the Treasury for terrorism and financial intelligence.

She made this statement after meeting with representatives of the Swiss government, the Bank for international settlements and other international financial organizations. The topic of discussion was the regulation of a new class of digital assets, including Libra, whose management company is registered in Geneva.

“Whether it’s bitcoin, Ethereum, or Libra, all companies must lay down the highest standards for countering money laundering and combating the financing of terrorism at the beginning of the project’s development,” says Mandelker.

The Deputy Minister believes that representatives of the cryptocurrency industry spend the lion’s share of time developing technologies, but practically do not pay attention to restricting access to their networks to terrorists and other undesirable elements who can use the network to secretly transfer money.

She also expressed her opinion on Facebook’s cryptocurrency initiative. According to her, Libra is still at an early stage and should now lay down mechanisms that can prevent such crimes. “Swiss officials hold similar views,” she said.

Mandelker added that she is due to meet with representatives of the Swiss financial market Supervisory authority (FINMA) in the next few days to discuss the problem of combating money laundering, as well as enforcement measures against companies that ignore the current rules or even violate them.

Recall that last week, the President Of the national Bank of Switzerland, Thomas Jordan, expressed
concern about stablecoins linked to foreign exchange rates.