A White House official said Friday that legislation around cryptocurrencies is unlikely to materialize anytime soon. Echoing previous comments from U.S. Treasury Secretary Steve Mnuchin, Joyce said that his more immediate concern was with the criminal usage of bitcoin. "We are worried. There are benefits to the bitcoin concept - digital cash, digital currencies," he said. One U.S. Treasury official called on the international community to help take action against cybersecurity threats in a speech earlier this week, and asserted that a globally coordinated effort is the only way to prevent "Rogue regimes" and terrorists from exploiting the pseudonymity bitcoin provides to engage in illicit activities.