Cryptocurrency Regulatory Framework Needed For Industry: Adeyemo

U.S. regulators are seeking to create a regulatory framework for cryptocurrencies to establish clear rules for the industry and curb illicit activities such as money-laundering, Deputy Secretary of the Treasury Wally Adeyemo says.

• Cryptocurrency industry players and exchanges can follow U.S. anti-money laundering standards once given the proper regulatory guidance, Adeyemo tells Bloomberg Television
  • U.S. will hold industry players who do not follow the laws and engage in criminal activities accountable
• Congress must act quickly to provide necessary oversight tools, but regulators will do what is needed to ensure financial stability if necessary
• NOTE: Stablecoin Risk Spurs U.S. Agencies to ...