US and UK Officials Are Watching Crypto

January 26, 2018

US and UK Officials Are Watching Crypto

Government officials of the United States and the United Kingdom do not ignore cryptocurrencies. In fact, they are closely looking at this market and want to assure that there are no cases of illegal activity.

Speaking at World Economic Forum in Davos both US Treasury Secretary Steven Mnuchin and British Prime Minister Theresa May have separately stated that "illicit" or "criminal" use of Bitcoin is the reason why implementing of appropriate cryptocurrency regulation is needed. 

Mnuchin told CNBC: 

"My number one focus on cryptocurrencies, whether that be digital currencies or bitcoin or other things, is that we want to make sure that they're not used for illicit activities."

Theresa May seconded his words by saying that it is necessary to ensure that Bitcoin in not used in any illegal activities in the UK. It is important, since Great Britain is preparing for the Brexit and the cryptocurrency market in the European Union is virtually unregulated. 

She said to Bloomberg:

"In areas like cryptocurrencies and Bitcoin, we should be looking at these very seriously, precisely because of the way they can be used, particularly by criminals. It is something that has been developing… I think it’s something that we do need to look at."

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