[Blockchain Today Correspondent Jang Seo-yeon] Brian Nelson, who was nominated by U.S. President Joe Biden as Treasury Secretary for Terrorism and Financial Crimes, has announced that the new rules for cryptocurrencies will be implemented first.
As Cointelegraph reported on the 22nd (local time), at a hearing with the Banking and Housing and Urban Commission, Nelson said, “Once he is appointed Minister of Treasury, Terrorism and Financial Intelligence, he will focus on anti-money laundering (AML) regulations. The anti-laundering laws will give authorities the power to regulate cryptocurrencies in any form.”
The Ministry of Finance’s Financial Crimes Enforcement Network proposed rules earlier this year that would consider the trading of convertible digital currencies or digital assets in a similar anti-money laundering and counter-terrorism response. Last month, a government agency required exchanges and managers to report cryptocurrency transactions worth more than $10,000 to the Internal Revenue Service.
contact@blockcast.cc
