The United States wants a stronger cryptocurrency regulation.
The US Treasury Deputy Secretary for the Office of Terrorism and Financial Intelligence has called on the international community to apply stronger cryptocurrency regulation,the regulation is used to help protect the national financial and security system.
Sigal Mandelker: Cryptocurrency Regulation Not Consistently Complete.
Mandelker said that there are no consistent international regulations regarding cryptocurrency service providers regarding anti-money laundering (AML) and combating terrorism financing (CFT),Currently, we are the only major country in the world, along with Japan and Australia, which organize this activity for AML / CFT purpose. But we still need more countries to follow it.
Mandleker has also encouraged regulators to take severe action against their efforts to prevent financial crimes and protect national security. He also stated that companies should do more to money laundering and terrorism financing in countries without loosely enacted rules or regulations.
The Mandelker further warned that a $ 110 million penalty that had been levied on BTC-e cryptocurrency exchanges last year for failing to register as a moneymaker as expected and the willingness of the Treasury to enforce regulations aggressively.