{"id":389942,"date":"2019-07-15T20:01:59","date_gmt":"2019-07-15T20:01:59","guid":{"rendered":"https:\/\/wncen.com\/?p=389942"},"modified":"2024-06-11T11:58:59","modified_gmt":"2024-06-11T11:58:59","slug":"us-treasury-crypto-warns-unlawful","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/us-treasury-crypto-warns-unlawful\/","title":{"rendered":"US Treasury Increases Regulatory Pressure on Crypto, Warns of Its Unlawful Uses"},"content":{"rendered":"

Friday night, United States President Donald Trump tweeted about Facebook Libra, Bitcoin<\/a>, and crypto as a whole, expressing his distaste in the emerging asset class and commenting on their \u201cunlawful\u201d uses.<\/span><\/p>\n

Following the first glimmer at the government\u2019s more demonizing stance against cryptocurrencies, Steve Mnuchin, the United States Secretary of the Treasury, briefed the nation on live television about the state on of the budding digital financial technology called crypto. But his comments weren\u2019t positive and the crypto industry is left scratching its head wondering what this means for the entire landscape.<\/span><\/p>\n

Will The United States Finally Bring Regulation to the Crypto Industry?<\/span><\/h2>\n

The crypto<\/a> industry, is a young, fast-paced, volatile and potentially world-changing category of of financial assets, however, because of it being a relatively new technology, there is still so much about the asset class that the world doesn\u2019t know. And sometimes, people fear the unknown, or at the very least, can have their opinions easily swayed by public opinion if they aren\u2019t familiar with the subject themselves.<\/span><\/p>\n

Related Reading | Trump Blasts Bitcoin For Illicit Use As NY College Is Hit With $2M Ransomware<\/a><\/strong><\/em><\/p>\n

Bitcoin and other cryptocurrencies often get a bad reputation for \u201cunlawful\u201d use, including but not limited to, \u201ccybercrime, tax evasion, extortion, ransomware, illicit drugs, and human trafficking.\u201d Uses that as Steve Mnuchin, the United States Secretary of the Treasury<\/a> explained as reasons for pause and concern.<\/span><\/p>\n

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Holy crap! Turn on the TV. Treasury Secretary of the USA making an emergency announcement about #crypto<\/a>!!<\/p>\n

— Mati (@MatiGreenspan) July 15, 2019<\/a><\/p><\/blockquote>\n