U.S.Treasury publishes a new report on fintech, cryptocurrency and blockchain

Home » REGULATIONS » U.S.Treasury publishes a new report on fintech, cryptocurrency and blockchain
U.S.Treasury publishes a new report on fintech, cryptocurrency and blockchain

On July 31st the U.S. Department of the Treasury introduced a new cryptocurrency statement, which proposes an alternative perspective to the issue of the regulation of the fintech industry in the USA. A massive document focuses on the major  issues of innovation / fintech and concludes that the sphere of cryptocurrency and blockchain is completely  different field with its specific features and characteristics. All in all, the official outline indicates that the American decision-makers need to work more on intreating fintech and the latest world innovations to the U.S. financial and economic industries.

US Treasury

Moreover, fintech plays an important role in large, medium and small businesses all around the world. The report has also outlined useful recommendations, which have a potential to bring this newly born industry to a new qualitative level. It is crucial for the U.S. decision-makers to reconcile the international money transaction mechanism and legislation. Currently it is successfully used in the cryptocurrency exchanges regulation model.

“Nonbank financial firms play important roles in providing financial services to U.S. consumers and businesses by providing credit to the economy across a wide range of retail and commercial asset classes. Nonbanks are well integrated into the U.S. payments system and play key roles such as facilitating back-end check processing; enabling card issuance, processing, and network activities; and providing customer-facing digital payments software. Nonbank financial firms also play important roles in capital markets and in providing financial advice and execution services to retail investors, among a range of other services”

Cryptocurrency industry is constantly growing and expanding; more and more world authorities try to find an effective way to control it. This issue was even discussed during the G20 Summit this year. Without doubts, there are a lot of risks in the modern cryptocurrency and ICO industry, which creates a number of serious problems for governments. The U.S. Department of the Treasury also noted that fintech and blockchain need to be actively supported by the U.S. and world authorities.


  • bitcoinBitcoin$3,957.91
  • ethereumEthereum$146.68
  • rippleXRP$0.332456
  • tetherTether$1.00
  • eosEOS$3.63
  • stellarStellar$0.090668
  • litecoinLitecoin$47.95
  • cardanoCardano$0.047409
  • tronTRON$0.025319
  • moneroMonero$52.08
  • iotaIOTA$0.313308
  • nemNEM$0.043687
  • dashDash$88.10
  • neoNEO$9.16
IBM used blockchain to ship 28 tons of citrus fruits from China to Singapore
On the eve of the Chinese New Year celebration, the technological giant IBM delivered 28 tons of oranges and tangerines from China to Singapore. When issuing a bill of lading confirming the contract of shipment, the blockchain technology was used, reports CoinDesk. IBM experts note that the electronic bill of lading (e-BL) has accelerated administrative […]
2019-02-19 0 12
What Can I Buy with BTC and What Sites Use It?
In the autumn of 2017 cryptocurrency fever triggered a high interest among trade agents in using BTC as payment method both for online and offline commerce. People were thrilled and excited. Searches on Google like “where to pay with bitcoin”, “where to spend bitcoin”, “bitcoin stores” were most frequent those days.  Unfortunately, raising fees for […]
2019-02-18 0 36
The media confirmed the launch date of the test network Telegram Open Network
The Telegram Open Network (TON) blockchain platform, behind which the popular messenger operator stands, is 90% complete, and the launch of the test network is scheduled for the end of March 2019. It is reported by The Block, with reference to the report received by the investors of the project. As the newspaper notes, Telegram […]
2019-02-11 0 15
Media: the cost of the Telegram internal cryptocurrency could reach $ 30 billion
By the end of 2019, the total cost of the internal token Gram of the blockchain project Telegram Open Network (TON) could reach $ 29.5 billion. The Bell reports with reference to the report HASH Crypto Investment Bank. According to the investment company, the target cost of 1 Gram token by the end of 2019 […]
2019-02-07 0 10
© 2017–2018