Treasury to Roll Out Cryptocurrency Rules

WASHINGTON — The Trump administration plans to introduce regulations for cryptocurrencies that are intended to crack down on their use in facilitating money laundering and other illicit activities, Treasury Secretary Steven Mnuchin said on Wednesday.

Mr. Mnuchin told lawmakers that the regulations were being developed with other agencies and financial regulators to improve transparency surrounding digital currencies like Bitcoin. The administration has expressed growing concern over the use of such currencies to anonymously execute illegal transactions and potentially evade American sanctions on countries like Iran.

“We are about to roll out some significant new requirements,” Mr. Mnuchin said during a hearing before the Senate Finance Committee. “We want to make sure that technology moves forward; on the other hand, we want to make sure cryptocurrencies aren’t used for the equivalent of old Swiss secret number banking.”

Mr. Mnuchin did not provide details of what the…