Earlier this week, Mnuchin spoke at the Senate Banking Committee. It was during this presentation that Mnuchin reportedly stated that even though he doesn’t believe cryptocurrencies pose a threat to the stability of the market, he is very wary about criminals using virtual currencies for criminal activity such as money laundering. For these reasons, Mnuchin plans to start a discussion regarding cryptocurrency regulation at the next G20 summit. The G20 summit allows for the globe’s 20 leading industrialized economies to come together, and the next one will be held in Argentina next month.
Interestingly, if Mnuchin ends up discussing cryptocurrency regulation next month at the summit, this actually won’t be the first time this topic has been discussed at one of the meetings. In 2015, the matter was discussed during a meeting with the G7 nations. For those who don’t know, the G7 includes the following countries: France, Italy, the United States, the United Kingdom, Canada, Germany, and Japan.