Sunday, January 23, 2022

Estonia Offers to Share Crypto Experience With US to Identify Best Practices for Digital Assets – Regulation Bitcoin News

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Estonian Finance Minister Keit Pentus-Rosimannus has provided to share her nation’s expertise in regulating cryptocurrencies with the U.S. in a dialogue with Treasury Secretary Janet Yellen.

Estonia Offers to Share Crypto Experience With the US

U.S. Treasury Secretary Janet Yellen and Estonian Finance Minister Keit Pentus-Rosimannus reportedly mentioned cryptocurrency regulation throughout a video name Friday. Among the matters mentioned by the 2 was Estonia’s proposed new cryptocurrency regulation, ERR News reported.

“The U.S. is one of Estonia’s most important partners in the field of security, and also in financial matters. We highly value cooperation with the U.S. in the prevention of money laundering, including their advice on risk analysis systems,” the Estonian finance minister commented after the decision with Yellen. She detailed:

I urged to the U.S. Treasury Secretary that Estonia can share its expertise to determine finest practices. We additionally mentioned alternatives for cooperation in implementing FATF [Financial Action Task Force] and regulating cryptographic belongings.

Estonia is at the moment engaged on a cryptocurrency invoice that, if handed, will enhance transparency whereas lowering the anonymity of crypto transactions, together with these involving bitcoin and non-fungible tokens (NFTs), the minister defined. She famous that the brand new regulation will allow simpler monitoring of the crypto sector.

Finance Minister Pentus-Rosimannus opined: “In the area of ​​virtual currencies, most countries are currently looking for solutions that can allow the fast-growing sector to develop in a transparent and investor-friendly manner.”

The minister continued, “Estonia has mapped and recognized the risks of this sector at an early stage,” including:

We are pleased to see wider worldwide cooperation in bringing collectively the perfect practices for managing these.

Tags on this story
Best Practices, Collaboration, Crypto regulation, Cryptocurrency regulation, Estonia, estonia crypto, Estonian cryptocurrency regulation, Estonian Finance Minister, Janet Yellen, sharing info, Treasury Secretary, us crypto regulation

What do you consider Estonia sharing its crypto expertise with the U.S.? Let us know within the feedback part beneath.

Kevin Helms

A pupil of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source techniques, community results and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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