RATE Group | The U.S. OFAC is keen to regulate and provide guidelines to cryptocurrency market
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The U.S. OFAC is keen to regulate and provide guidelines to cryptocurrency market

15 Aug The U.S. OFAC is keen to regulate and provide guidelines to cryptocurrency market

Posted at 14:07h in Cryptocurrency News by

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  • A report was released by The United States Department of Treasury’s Office of Foreign Assets Control (OFAC) on cryptocurrencies.
  • The body wants to provide regulation and guidelines to the sector, but has been moving slowly compared to other entities. 

 

The United States Department of Treasury’s Office of Foreign Assets Control (OFAC) demonstrated much interest in terms of regulating the cryptocurrency market, and providing framework/guidelines. 

A report released by the body, portrays that providing regulation for the space is becoming an increased priority. They believe a strong approach on their side could be used to contribute towards sanitizing the industry.

OFAC like other U.S. financial authorities have been very much interested in cryptocurrencies, but unlike the Securities and Exchange Commission (SEC) and Department of Justice (DOJ), it has taken a much slower approach towards regulating the space, as per the report.

 

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