The state agency launched a document with 20 key questions related to the use of cryptocurrencies, requesting opinions and perspectives on how to prevent criminal acts involving the use of these assets.
- Treasury Department solicits opinions on the use of cryptocurrencies
- Published a document with 20 key questions
- It places special emphasis on measures to prevent crimes involving these assets.
- The measure is part of the executive order signed by President Joe Biden.
- Other agencies are already trying to move forward on these issues in their own ways.
El U.S. Department of the Treasury . the leading monetary and financial regulatory authority in the North American country, opened a request for comments for the general public, especially members of the crypto community, to submit recommendations, suggestions and perspectives on the use of digital assets in criminal activities and the agency’s possible actions to address a place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. these problems.
The request came to place in a publication presented through its official portal, where it makes available a document with some questions of interest on the issues outlined above and invites citizens to respond to the questions raised therein.
In relation to this request, the Treasury Department points out:
“The increasing use of digital digital technologies are these electronic tools that have the ability to generate, store or even process data. assets in financial activity increases the risks of crimes such as money laundering, terrorist financing, fraud/theft schemes and corruption. These illicit activities highlight the need for continued scrutiny of the use of digital assets as technological innovation may affect such activities and the exploration of opportunities to mitigate these risks through regulation, oversight, public and private engagement, supervision, and law enforcement.”
Points of interest for the Treasury Department
Among the noteworthy aspects in the document published by the Treasury Department These questions range from how cryptocurrencies can be used in the financing of illicit acts, through the risks they pose, to the role that regulations against money laundering and the financing of terrorist acts could play. It also explores the need for possible regulatory obligations, which could help establish better guidelines for dealing with these assets.
In view of the above, one of the interesting questions posed by the agency reads:
“How can the U.S. Treasury Department, in conjunction with other government agencies, improve public-private guidance and communication on [Anti-Money Laundering/Fighting the Financing of Terrorism ] and sanctions obligations with respect to digital assets?”
It is worth noting that the publication of this document and the intention behind the questions is related to the executive order issued by U.S. President Joe Biden, who asked all agencies to monitor and study the ecosystem of digital currencies, identifying opportunities for the country and emphasizing due protections for users residing in U.S. territory. Among the established guidelines are also aspects such as financial stability and closing spaces for illicit activities with these assets.
Other agencies also want to gain space
While the U.S. Department of the Treasury . does the same and opens the consultation for those interested in the subject, there are other agencies working on due diligence to give some clarity in the regulatory approach applicable to cryptocurrencies.
These include the Securities and Exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. Commission (SEC) and the Commodity Futures a futures contract is a standardized legal agreement to buy or sell a particular commodity or asset at a predetermined price at a specified time in the future. Trading Commission (CFTC), entities that appeared last week before the U.S. Senate to present their perspectives on these issues. The top representatives of both agencies reaffirmed that digital currencies should be regulated regulation is when something is controlled by a specific set of rules. and addressed by their respective bodies, while noting that there are still disputes inherent to the legal definitions under which they could be classified (Securities or commodities).
In the meantime, the one that has given the most to talk about is precisely the SEC for the way it has approached the trading of digital currencies on different platforms and campaigns. A few weeks ago, he rated some assets traded via Coinbase is an American company that operates a cryptocurrency exchange platform. as securities, which is why it is currently conducting an investigation targeting exchanges operating within the country.
Let’s keep in mind that the SEC is currently involved in a court dispute against the team of Ripple Labs for trading the token a digital unit designed with utility in mind, providing access and use of a larger crypto economic system. XRP in the pre-sale the sale of a cryptocurrency, ahead of it going public, to specific investors. phase between 2013 and 2015. Critics and analysts argue that the regulator is not very clear on the issue, which is why they call its actions in this space arbitrary.
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Article by Angel Di Matteo / DiarioBitcoi n
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