Estonia offers to share crypto experiences with the United States to identify best practice for digital assets-regulation
Estonia offers to share crypto experiences with the United States to identify best practice for digital assets-regulation
The Estonian Finance Minister Keit Pentus-Rosimannus has offered to share his country's experience in the regulation of cryptocurrencies with the United States in a conversation with finance minister Janet Yellen.
Estonia offers to share crypto experiences with the USA
US finance minister Janet Yellen and the Estonian finance minister Keit Pentus-Rosimannus reported on the regulation of cryptocurrency during a video call on Friday. One of the topics discussed by the two was Estonia proposed new cryptocurrency regulations, reported Err News.
"The USA is one of the most important partners in Estonia in the security area and also in financial issues. We attach great importance to working with the USA in money laundering prevention, including their advice on risk analysis systems," commented the Estonian finance minister after the phone call with Yellen. They detailed:
I proposed the US Finance Minister that Estonia can share his experiences to determine proven procedures. We also discussed the possibilities of cooperation in the implementation of the FATF [Financial Action Task Force] and regulation of cryptographic assets.
Estonia is currently working on a cryptocurrency law that, if it is adopted, will increase transparency and at the same time reduce the anonymity of crypto transactions, including those with bitcoin and non -fungal tokens (NFTS), the minister said. She found that the new law would enable more effective monitoring of the crypto sector.
Finance Minister Pentus-Rosimannus said: "In the area of virtual currencies, most countries are currently looking for solutions that can enable transparent and investor-friendly development of the rapidly growing sector."
The minister continued: "Estonia recorded and recognized the risks of this sector at an early stage," added:
We look forward to wider international cooperation to bring together the best practices for their administration.
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