Mnuchin said US regulators have already expressed concerns to Facebook about the plan for a global cryptocurrency, noting that these kinds of virtual coins have in the past been associated with money laundering and illicit activities.
"Whether they''re banks or non-banks, they''re under the same regulatory environment," Mnuchin told reporters at the White House, adding that Facebook "will have to have a very high standard before they have access to the financial system." (AFP) SCY SCY
Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI