The US Treasury Secretary calls for improved crypto regulation to prevent illicit transactions
One of America’s members of parliament is calling for better regulation when it comes to cryptocurrencies.
US Treasury Secretary, Janet Yellen, points out that it’s important to support responsible innovation when imposing crypto asset regulation.
Yellen says that regulators normally have authorities that can manage crypto risks and provide oversight on new mediators including digital asset exchanges.
“We will make policy recommendations, including assessment of potential regulatory actions and legislative changes,” Yellen says.
This all echoes a recent White House executive order that was welcomed by the crypto market.
Biden’s order means the Treasury and the Commerce Department are obliged to produce reports documenting “the future of money” and the role cryptocurrencies will play.
