US Treasury Department To Unveil New Requirements For Cryptocurrency Transactions

Mnuchin was asked a question about cryptocurrency, which spurred the response. Senator Maggie Hassan (D-N.H.) asked the Secretary about the proposed increase in the institution’s budget and whether or not it will sanitize the crypto sector. The senator wanted to know if the Treasury had any plans to closely monitor illicit crypto activity and how it planned to tackle criminals who use crypto to facilitate their crimes.

Last year, a similar announcement was made when Congressman Emanuel Cleaver II of the 5^th district of Missouri said the Treasury Department will investigate Facebook’s Libra for systemic risk.