According to the US Cryptocurrency regulation expectations, the country does not plan any such initiatives in the near future. However, just last week, the US Treasury official as called for the international community to take action in regards to the cryptocurrency market.
19 February, AtoZForex – While countries all around the globe are mulling the establishment of the cryptocurrency-related regulations, the US White House made its stance clear. The officials have stated that the US is not planning to legalize cryptocurrencies anytime soon.
US Cryptocurrency regulation expectations
The cybersecurity coordinator with the White House and the special assistant to the President Rob Royce has shared his somewhat harsh assessment in regard to the recent series of discussions on the US cryptocurrency regulation. The talks have been taking place between US Senate hearings, public op-eds, and the enforcement actions.
Mr. Joyce has stated:
“I think we’re still absolutely studying and understanding what the good ideas and bad ideas in that space are. So I don’t think it’s close.”
The White House cybersecurity coordinator has reiterated the remarks from the US Treasury Secretary Steven Mnuchin. He has stated that he is more concerned about the criminal usage of Bitcoin. He also has highlighted the irreversibility of Bitcoin transactions as one of the key issues. Mr. Joyce has added:
“We are worried. There are benefits to the bitcoin concept – digital cash, digital currencies. But at the same time, if you look at the way bitcoin works after there is a criminal act that takes place, you can’t rewind the clock and take back that currency. We haven’t figured that out yet. So it’s a problem.”
US Treasury Calls for International Crypto Regulations
One of the US Treasury officials has called for the global cryptocurrency regulations earlier last week. He has asked the international community to help take action against cybersecurity threats in his speech. He also has emphasized that a globally coordinated attempt to take control of cryptocurrencies in the only way to avoid “rogue regimes” and terrorists from utilizing the pseudonymity of Bitcoin.
Many of the global leaders agree with this point. One of the latest comes the Chairwoman of IMF, Christine Lagarde. Earlier last week, she has stated that her agency is actively looking into preventing the illegal use of cryptocurrencies. She largely supports the internationally-coordinated approach to the cryptocurrency regulation.
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