US Treasury: FB Libra Coin needs to meet the highest standards of anti-money anti-terrorism

According to foreign media reports, a senior US Treasury official said on Tuesday that if the Facebook-led Libra cryptocurrency project is to be launched, it must meet the highest standards of the US government to combat money laundering and terrorist financing.

According to reports, Sigal Mandelker, deputy secretary of the US Treasury for terrorism and financial intelligence, told reporters in the Swiss capital that any cryptocurrency project, including Geneva-based Libra, operates in all or most parts of the United States. , must comply with US regulatory standards.

Mandelk said: "Whether it is Bitcoin, Ethereum, and Libra, the message we convey to all of these companies is the same: anti-money laundering and counter-terrorism financing must be integrated into your design from the start."

She made the remarks when she met with representatives of Swiss government officials, the Bank for International Settlements and other international financial institutions to discuss cryptocurrencies.

Mandelk said that although the digital currency industry has invested a lot of energy in developing basic technologies, many industries pay too little attention to ensuring that the networks they are building do not allow terrorists and other lawless elements to hide and transfer funds.

The US Treasury official said she will meet with the financial market regulator of the Swiss financial market regulator. At the meeting, she will give priority to how to apply appropriate anti-money laundering safeguards and take enforcement actions against companies that violate these rules.

In August of this year, the Financial Market Regulatory Authority issued the first Swiss bank and securities license to two blockchain network service providers and established a digital currency center called “Encryption Valley”.

The US officials said that the plan for Libracoin is still in its early stages and that measures should be taken to prevent such crimes. She added that Swiss officials have similar views.

The G7 finance ministers and central bank officials said in July that digital currencies such as the Libra coin caused serious concerns and must be monitored as strictly as possible to ensure they did not disrupt the global financial system.

Source: Tencent Technology

Review: Cheng Hao

We will continue to update Blocking; if you have any questions or suggestions, please contact us!


Was this article helpful?

93 out of 132 found this helpful

Discover more


LianGuai Morning News | Bitcoin futures open interest reaches highest level since 2023

LianGuai launches the 2053rd issue of the LianGuai Morning 8 o'clock daily newsletter, providing you with the latest ...


LianGuai Encyclopedia | What is a known plaintext attack

Known plaintext attack (KLianGuai) refers to hackers using publicly known unencrypted and encrypted materials to dete...


LianGuai Morning Post | Federal Reserve Meeting Minutes Core Inflation Will Significantly Decrease in the Second Half of the Year

LianGuai launches the 2058th edition of the cryptocurrency and blockchain industry morning news 'LianGuai Morning 8',...


DelphiDigital What are the intent-based applications and what makes Anoma unique?

Author Delphi Creative; Translator LianGuai0xjs In previous articles, we outlined Anoma's intentions and saw their s...


LianGuai Daily | Grayscale Wins Lawsuit Against the US SEC; Ethereum Foundation Launches Ethereum Execution Layer Specification

Twitter has obtained a Currency Transmitter license in Rhode Island, USA; Tether uses the private bank Britannia for ...