On Monday, the United States Treasury Department held a digital currency working session with compliance experts and industry leaders. In a brief press release, Treasury noted that the goal of the meeting was to engage in a discussion about the oversight and regulatory challenges associated with cryptocurrency and other digital assets.
Treasury Secretary Steven Mnuchin stressed the importance of balancing the benefits of new technological innovations with the country’s national security:
“The U.S. welcomes responsible innovation, including new technologies that may improve the efficiency of the financial system. We must ensure that we balance innovation with the need to protect our national security and maintain the integrity of our financial system.”
The department’s statement also noted that Treasury remains focused on preventing digital assets from being used for criminal purposes and emphasized the country’s role in leading the effort to properly supervise digital currency entities. According to the release, the United States “will not tolerate the use of cryptocurrencies in support of illicit activities.”