Dachsie
21st December 2020, 08:21 AM
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The possible new Treasury secretary will be Janet Yellen.
https://www.wsj.com/articles/treasury-department-proposes-new-requirements-on-cryptocurrency-transactions-11608329785?mod=newsviewer_click
Some Cryptocurrency Trader Disclosure Required in Proposed Rules
Treasury Department seeks to hold users to standards followed by traditional financial institutions
The Treasury Department, under Secretary Steven Mnuchin, is proposing rules as bitcoin hovers near a record.
Photo: Jim Lo Scalzo/EPA-EFE/Shutterstock
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Updated Dec. 18, 2020 9:44 pm ET
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The Treasury Department unveiled a plan Friday to require some cryptocurrency traders to provide information about their identities in an effort to curb the anonymous transfer of assets by criminals using the new technology.
The proposed regulations, coming as the price of bitcoin hovers near a record high, seek to deliver on a longstanding goal of U.S. policy makers: to hold entities that transact in cryptocurrencies to the same standards required of traditional financial institutions.
The proposals would focus on a type of tool known as unhosted wallets, which allow the owner of a unique digital key to store cryptocurrencies, such as bitcoin and ethereum, and transact with others directly—without going through a financial institution. SNIP
The possible new Treasury secretary will be Janet Yellen.
https://www.wsj.com/articles/treasury-department-proposes-new-requirements-on-cryptocurrency-transactions-11608329785?mod=newsviewer_click
Some Cryptocurrency Trader Disclosure Required in Proposed Rules
Treasury Department seeks to hold users to standards followed by traditional financial institutions
The Treasury Department, under Secretary Steven Mnuchin, is proposing rules as bitcoin hovers near a record.
Photo: Jim Lo Scalzo/EPA-EFE/Shutterstock
By
Updated Dec. 18, 2020 9:44 pm ET
Text
This feature is powered by text-to-speech technology. Want to see it on more articles?
Give your feedback below or email audiofeedback@wsj.com.
The Treasury Department unveiled a plan Friday to require some cryptocurrency traders to provide information about their identities in an effort to curb the anonymous transfer of assets by criminals using the new technology.
The proposed regulations, coming as the price of bitcoin hovers near a record high, seek to deliver on a longstanding goal of U.S. policy makers: to hold entities that transact in cryptocurrencies to the same standards required of traditional financial institutions.
The proposals would focus on a type of tool known as unhosted wallets, which allow the owner of a unique digital key to store cryptocurrencies, such as bitcoin and ethereum, and transact with others directly—without going through a financial institution. SNIP