This week, the White House has rejected a possible crypto-regulation. Instead, they are still in the learning process. This was said by President Rob Joyce’s cybersecurity commissioner on Friday, CNBC, at the current Munich Security Conference. Hearings by the US Senate in the last few weeks with the responsible supervisory authorities had recently sparked speculations about upcoming draft laws.
The road to the news spy is still long
Trump consultant Rob Joyce stressed this to CNBC on Friday at the Munich Security Conference, confirming a calming course in the news spy crypto handling. In Munich this weekend, Joyce emphasised that the news spy current learning process was more about carefully weighing the risks and opportunities of decentralised currencies before imposing a legal framework on them.
“I think we are just beginning to learn and understand what the good and bad ideas are [in crypto currencies]. I don’t think this [upcoming regulation] is imminent”,
said the president’s special advisor. With his statements Joyce brings further reassurance into the discussion about the upcoming US regulation. Previously, hearings of the US Senate with the responsible supervisory authorities had led to speculation about approaching laws.
Nevertheless, Joyce stated on Friday that the criminal potential of crypto currencies was particularly problematic:
“We are concerned. The Bitcoin concept has advantages. But at the same time, if you look at how Bitcoin works after a crime has been committed with it, you can’t always turn back the clock and withdraw the currency [editor’s note: or payment].
Joyce in Munich believes that anonymity and a lack of traceability are particularly challenging. Once a year, international leaders, top politicians, military officials, security experts and representatives of international organisations, academia and business debate current issues and challenges in security and defence policy. It is the largest meeting of its kind in the world.
IMF and US Treasury: curbing crypto-crime
With his statements Joyce as representative of the White House in Munich reflected on Friday also the opinions of the US Secretary of the Treasury Steven Mnuchin. This had spoken last approximately in the context of the World Economic Forum in Davos of wanting to fight criminal machinations in the haze circle of crypto currencies. He had also given reason to reassure future laws. At present the same laws and editions would apply to crypto currencies and their owners as to each other bank.
The demands of the International Monetary Fund (IMF) sounded more drastic this month. Its head, Christine Lagarde, predicted last week that global crypto regulation was “inevitable” ahead. The IMF chief also sees reasons for this primarily in the dangers of illegal use. She stressed that the IMF is currently actively pursuing efforts to curb the possibilities of money laundering and terrorist financing through digital currencies. It was necessary to know who was using Bitcoin and whether the necessary conditions were in place.