The US Treasury Department is developing a special information sharing platform for cryptocurrency exchanges that would facilitate the reporting of illegal operations, Kenneth Blanco, Director of the US Financial Crimes Enforcement Network (FinCEN), said on Thursday.
“We are in the process of setting up a virtual currency-focused FinCEN Exchange program with the private sector and law enforcement, which will provide a platform for all of us to engage with industry developments, concerns, and share risks and threats that we are seeing,” Blanco revealed.
The FinCEN chief called on the cryptocurrency industry to be more active in cooperating with authorities because this not only protects investors, but also stamps out ‘negative perceptions of virtual currency as the coinage of the dark web and bad actors.’
The new platform will be similar to the FinCEN Exchange program for tr...
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