The issues facing the US Mint, which produces and circulates coinage, and the Bureau of Engraving and Printing (BEP), the office responsible for designing Federal Reserve notes and other government-backed securities, related to new payment methods like cryptocurrency. Furthermore, the two agencies are urged to consider the effect of alternative payment methods and to look at the long-term effect such “technological advances” could pose to their business models.
The subject of cryptocurrencies was raised elsewhere in the memo, in reference to the US Financial Crimes Enforcement Network (FinCEN), which is an agency that oversees exchanges in the US, according to Coin Desk. According to the note, the cryptocurrency exchange ecosystem remains an “area of concern” for the US Treasury.
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