At the hearing in the U.S. Congress, Vice President, product development and strategy consulting company Financial Integrity Network (FIN) David Murray called on to equate cryptocurrency miners to service providers of virtual assets (VASP). He said that cryptocurrencies are being used in human trafficking and should be regulated much stricter than now.
As follows from the statement of Murray’s miners as “validators transactions of virtual currencies” will have to allow or restrict the carrying out of transactions by members of the block chain, as well as check issuers, stock exchanges and custodians, which they serve. In this case, the miners will be adjusted in accordance with the Bank secrecy Act. Murray said:
“The lack of systematic guidelines to ensure legal compliance when working with financial crimes for some of the available crypto-currencies allows you to operate the criminal space and complicates the process of limiting access malicious services to the US financial system”.
According to the Director on research activities of the company’s Coin Center, Peter van Valkenburg, such requirements are tantamount to a ban on MINERCOL activity:
“It is presented as a regulation, but in reality will be a ban on the use of public blockchain networks of citizens and companies in the US, because they will be forced to use them as systems with restricted access. A ban of an entire type of technology.”
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