Crypto Currency News

The White House receives pressure to improve crypto policies

The Treasury Department issued a statement on the current operation of the sanctions.

The backwardness of the United States Government in terms of crypto regulation or digitization of its economy is already beginning to worry the underlying organizations themselves. In the last hours, the federal Treasury issued a ” review ” on the sanctions that are implemented in the market and suggested that the White House review its policies .

The use of cryptocurrencies is growing by leaps and bounds around the world, and especially in the United States . For that reason, the Treasury believes that they should have ” better communication ” with the industry and the financial companies that decide to operate in it . In particular, they mentioned the importance of reviewing the sanctions imposed so far.

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“Sanctions are a fundamentally important tool to advance our national security interests … If left unchecked, these digital assets and payment systems could harm the effectiveness of our sanctions, ” explained Wally Adeyemo, Undersecretary of the Treasury.

The objective of the document presented by the Treasury is for the Government to move towards a more structured policy framework, based on which it makes the sanctions understood and adapts them to the system, thus avoiding “ unintended economic , political and humanitarian consequences ”.

In addition, agency officials recognized that they could improve their knowledge of the emerging market, in order to optimize internal processes and mechanisms. Not only was the need to improve the technology mentioned, but also the staff.

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