Neel Kashkari branded cryptocurrencies “a giant garbage dumpster,” and the Department of Justice called bitcoin mixing “a crime.”

Blow To Bitcoin As ‘Significant’ U.S. Crypto Crackdown Suddenly Revealed

Lashari from Philadelphia and Mnuchin, who last year echoed U.S. president Donald Trump’s criticism of bitcoin and cryptocurrencies, told the Senate Finance Committee the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) is preparing:

“significant new requirements” around cryptocurrencies and we’ll “be seeing a lot of work coming out very quickly.”

“We want to make sure that technology moves forward but, on the other hand, we want to make sure that cryptocurrencies aren’t used for the equivalent of old Swiss secret number bank accounts,” Mnuchin said, adding FinCEN and the Treasury Department more broadly are “spending a lot of time on this.” Please Read More Here