U.S. Treasury discusses crypto regulatory challenges and says it will not tolerate crypto illegal activities

The US Treasury Department met yesterday to discuss the challenges of overseeing the digital asset space. Industry thought leaders and compliance experts attended working sessions to discuss how to prevent money launderers, terrorist financiers and other bad actors from abusing cryptocurrencies. The Treasury Department said it would not tolerate the use of encryption to support illegal activities. Treasury Secretary Steven Mnuchin said, "The United States welcomes responsible innovation, including new technologies that can improve the efficiency of the financial system. We must ensure that we are innovating and protecting national security and safeguarding the integrity of the financial system. Balance. "