WASHINGTON, March 10 (Xinhuanet) -- The United States has rejecteda proposal by the Democratic People's Republic of Korea (DPRK) to set up a joint committee of experts to exchange information on financial matters, the State Department said in a statement on Friday.

    In turning down the DPRK proposal, the State Department said U.S. regulations to protect the country's financial system are not subject to negotiation.

    "The United States will continue to regulate its financial system as it deems appropriate in accordance with U.S. law," the statement said.

    The proposal was presented to the United States at the March 7 meeting between the two sides in New York where the two sides discussed the DPRK's alleged money-laundering and counterfeiting.

    The United States has said the meeting had nothing to do with the six-party talks deadlocked since the United States imposed financial sanctions on the DPRK last year. The DPRK has said it will not return to the talks if the United States does not lift the sanctions. Enditem