Cryptocurrency is at the heart of US President Joe Biden’s new national security policy

Cryptocurrencies are a focus of US President Joe Biden’s new guideline to combat corruption as a central national security interest of the US. A Biden government official said important parts of the policy will focus on cryptocurrencies and cybercrime.

US President Joe Biden

Cryptocurrency at the heart of Biden’s new national security policy

President Joe Biden has issued a new directive to federal agencies to make anti-corruption efforts a priority around the world. It was published in the “Memorandum of Understanding Establishing the Fight Against Corruption as a Core Interest of US National Security” published by the White House announced on Thursday.

A civil servant said the memo is important because it publicly informs federal agencies about their “game against corruption,” CNBC reported Friday.

Major parts of the policy will focus on financial crime, including steps to modernize existing anti-corruption laws to combat cryptocurrency and cybercrime. The official added:

“We see cryptocurrencies as an illegal financial vehicle, but these new steps are by no means limited to new technologies like cryptocurrencies.”

The bank secrecy law could also be updated, the official added, repeating, “We will look for ideas on how these systems can be modernized in response to new technology.”

The memo also instructs government agencies to “develop a president’s strategy” to counter “any form of illegal funding” in the US and international financial systems. This includes “robust” enforcement of federal law requiring US companies to “report their owners or beneficial owners to the Treasury Department to reduce offshore financial secrecy, [và] improve the exchange of information. “

“Departments and law enforcement agencies will respond to all requests from the President’s Assistant and the National Security Advisor for information, analysis, and assistance related to the interagency review. The inter-agency review will be completed within 200 days of the signing of this memorandum, and the Assistant to the President and National Security Advisor will provide the President with a report and recommendations on guidance, morale and subsequent action. “

Annie

According to News.Bitcoin

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