Michael Pompeo, the US secretary of state, believes cryptocurrencies and financial transactions should be regulated the same way.
Speaking with CNBC’s Squawk Box, Pompeo said, “We should use the same framework that we use to regulate all other electronic financial transactions today. That’s essentially what these are. These are monies moving through markets, or in some case disintermediated transactions.”
Lately, there has been a lot of talk regarding cryptocurrencies and how they should be regulated.
In the UK, FinTech Global reported in the beginning of August how the Financial Conduct Authority offered new guidelines about how they should be regulated. The new guidelines were part of a consultation called for earlier in 2019 and after Bank of England governor Mark Carney called for more cryptocurrency regulations in March 2018.
We also reported in August that South Korea’s Financial Services Commission has announced plans to change how it regulates the country’s cryptocurrency exchanges.
In the same month, Iran’s government issued new rules for the nation’s cryptorcurrency market.
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