US Treasury Department meets for cryptocurrency with industry leaders

The U.S. Treasury Department reportedly met with industry leaders yesterday to discuss how to prevent the use of cryptocurrencies for illegal purposes.

The U.S. Treasury Department held a meeting yesterday to discuss challenges with regulations on digital assets.

According to the news in The Block, crypto industry leaders and regulators attended the meeting, discussing how to prevent cryptocurrencies from being used for money laundering, terrorism financing and other bad practices.

Treasury officials stated that no tolerance will be imposed on the illegal use of cryptocurrencies.

Just yesterday, the Treasury Department’s Foreign Assets Control Office OFAC sentenced two Chinese people, Tian Yinyin and Li Jiadong, to break the law for their role in money laundering after a hacking of millions of dollars of cryptocurrency exchanges.

“The US is open to all reliable innovations, including new technologies, that will add efficiency to the financial system,” said Treasury…