US Treasury: Cryptos must adhere to tough market regulations

Cryptocurrencies that operate in the United States will have to adhere to the highest standards of combating terrorism financing and money laundering. This is the message that a senior U.S. Treasury official had for the crypto industry, Reuters reported. Speaking to reporters during a visit to Switzerland, the official believes that crypto companies haven’t paid enough attention to implementing procedures that can deter such crimes.

Sigal Mandelker, the U.S. Undersecretary of Terrorism and Financial Intelligence, was speaking after meeting with Swiss government officials and representatives from the Bank for International Settlements and other financial institutions.

According to Mandelker, the crypto industry has paid all its attention to developing the underlying technology and…

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