{"id":391028,"date":"2019-07-24T23:00:06","date_gmt":"2019-07-24T23:00:06","guid":{"rendered":"https:\/\/wncen.com\/?p=391028"},"modified":"2019-07-24T16:40:14","modified_gmt":"2019-07-24T16:40:14","slug":"steven-mnuchin-hints-at-new-crypto-assets-regulations-in-the-united-states","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/steven-mnuchin-hints-at-new-crypto-assets-regulations-in-the-united-states\/","title":{"rendered":"Steven Mnuchin Hints at New Crypto Assets Regulations in the United States"},"content":{"rendered":"

After remaining quiet on the issue of Bitcoin and crypto assets since taking office, the Trump<\/a> administration finally appears to be taking the industry seriously and is considering how to approach it from the regulatory point of view. Earlier this month, the president himself Tweeted<\/a> about his distaste for digital currency and his Treasury Secretary, Steven Mnuchin, claimed that the technology is a threat to US<\/a> national security<\/p>\n

The most recent words from Mnuchin on the issue is that US regulators are currently eyeing the space and that more regulations are in the pipeline.<\/p>\n

Mnunchin: Crypto Regulations to Follow a “Unified Approach” From Regulators<\/h2>\n

According to a report in Bloomberg<\/a> citing an interview from CNBC, Steven Mnuchin claims that the United States is preparing to create specific regulations to police the emerging crypto asset industry. The Treasury Secretary stated:<\/p>\n

\u201cWe\u2019re looking at all of the crypto assets… We\u2019re going to make sure we have a unified approach and my guess is that there are going to be more regulations that come out from all these agencies.\u201d<\/p><\/blockquote>\n

The agencies to which Mnuchin alludes include both the Securities and Exchange Commission and the Commodity Futures Trading Commission. Both have already attempted to apply existing<\/a> financial regulation to the space. However, from Mnuchin’s revelation today, there sounds like there is more on the way.<\/p>\n

Also during the interview, Mnuchin reiterated the concerns he raised earlier this month. He stated that authorities were concerned that Bitcoin and other crypto assets were being used primarily for illicit purposes and that financial regulators were keen to stamp this out one way or another.<\/p>\n

Earlier today, NewsBTC reported<\/a> on the US Treasury Secretary’s adamant refusal to believe that Bitcoin will be relevant in ten years time. In fact, Mnuchin said that he would not even be talking about it later in his own term in his position and he certainly wouldn’t be investing in it ever.<\/p>\n

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"I can assure you I will personally not be loaded up on bitcoin" in 10 years, says Treasury Secretary Mnuchin #bitcoin<\/a> pic.twitter.com\/0J5acWQwRO<\/a><\/p>\n

— Squawk Box (@SquawkCNBC) July 24, 2019<\/a><\/p><\/blockquote>\n