Brian Brooks, chief of the currency auditor’s office, says so The regulators are not trying to “kill” Bitcoin (BTC), but to ensure its smooth integration into the financial system.
In an interview with CNBC’s Squawk Box on Friday, Brooks said:
“We are very focused on doing this well. We are very focused on not ending this, and it is equally important that we develop the networks behind Bitcoin and other cryptocurrencies as this prevents money laundering and terrorist financing. “
The office of the currency auditor is the tax office that oversees the Bundesbanks.
Brooks’ comment was in response to whether the Trump administration plans to implement potentially harmful regulations on cryptocurrencies before his term expires.. Brian Armstrong, Coinbase CEO, drew attention about this problem last month in a series of tweets explaining why strict regulations on cryptocurrencies managed directly by people would be a bad idea.
When asked if we can expect new regulations by the end of President Trump’s term in office, Brooks said::
“I think you will see a lot of good news for cryptocurrencies at the end of Trump’s tenure. Part of this will have to do with banks connecting to blockchains, part of which will be more clear about the nature of those assets. “
While recognizing that there is a “dangerous world out there,” Brooks said:
“Nobody is going to ban Bitcoin. Nobody is going to ban some of these streaming technologies. “