The Ministry of Finance of the country held a meeting with representatives of the crypto industry to determine the issue of regulating a new type of assets

The US is open to innovation in digital technology, Treasury Secretary Steven Mnuchin said on March 2 at a meeting with representatives of the crypto industry. According to him, such developments may be useful for improving the efficiency of the financial system, but they should not threaten national security, the Agency said in a press release.

"The US welcomes innovations, including new technologies that can improve the efficiency of the financial system. But we must maintain a balance between innovation and protecting national security to ensure the integrity of our financial system," Mnuchin explained.

In a press release, the Treasury Department emphasized that the U.S. is focused on preventing the use of digital coins for money laundering, terrorist financing, and other illegal purposes. The use of cryptocurrencies in illegal activities is unacceptable, representatives of the Department said.

On February 13, Mnuchin said that the Ministry of Finance is developing new laws that will be aimed at combating the use of digital assets for illegal purposes. Bitcoin and other cryptocurrencies should not be used as a Swiss Bank account, the head of the Department explained.