Jul 18, 2019

Finance Minister Steve Mnuchin submits the rules of the encrypted currency

Finance Minister Steve Mnuchin submits a press release to the White House regarding the rules of the encrypted currency.

1. The US government requires US banks to comply with cryptographic rules so that cryptography does not work in the shadows.

2. The digital assets department is established and is currently operational.

3. Regulation in the field of cryptography is not limited to the United States, but must act globally, as discussed in the G20 and FATF.

4. The SEC and many other institutions and investors should be able to find out information about cryptography.

5. Cryptographic investors must take into account market volatility.

6. If the money is used for negative purposes, the US government will actively pursue them.

7. The existing cryptographic market was speculative and was used for negative purposes. The US government will stop this.

8. We do not refuse digital assets, including cryptography.

This is the most significant position of the US government in recent years. Especially, after all, not to reject digital assets, including encrypted money, means formal regulation, but that means legally acknowledging.

The United States officially recognized cryptocurrencies and divided them into many subspecies. The original is in English on 20 pages. Briefly about what criteria digital assets should meet for their legalization:

1. Not anonymity
2. Centralization
3. Lack of volatility

Post date 18 July 2019
Vietnamese Translation:


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