Categories: Bitcoin Business

Trump and his ex-banker treasury secretary are really scared of Bitcoin (and other cryptocurrency)

Click here to view original web page at thenextweb.com

US treasury secretary Steven Mnuchin is apparently super concerned about the impact Facebook‘s Libra “cryptocurrency” will have on national security, reports Bloomberg.

In a White House briefing, Mnuchin mirrored president Trump‘s recently-found tough stance on digital assets by claiming that its potential to facilitate crime is high.

“Cryptocurrencies such as Bitcoin BTC have been exploited to support billions of dollars of illicit activity like cybercrime, tax evasion, extortion, ransomware, illicit drugs, human trafficking,” Mnuchin told reporters.

“Many players have attempted to use cryptocurrencies to fund their maligned behavior. This is indeed a national security issue,” he added.

Steve Mnuchin on whether he thinks Trump's tweets are racist: "I don't find them racist. The president just went on and clarified his comments. I think he speaks for himself on that. He was very clear. But again, we're focused on cryptocurrency."

Facebook, which is scheduled to front the US senate today, has already said that it won’t launch Libra until the concerns of financial regulators and central banks are fully met.

In his official testimony, Facebook‘s head of Calibra David Marcus also clarified its Libra token isn’t intended to rival to the US dollar, but rather serve as a tool to make international payments more efficient.

A Facebook spokesperson previously confirmed Libra won’t launch in India due to vehement government scrutiny.

Early Monday, Trump tweeted a barrage of anti-Bitcoin sentiment. It consisted mostly of outdated rhetoric — that Bitcoin et al are super bad because they facilitate illegal activity like money laundering, terrorist financing, and human trafficking.

I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….

Almost entirely indifferent to Mnuchin’s ramblings, the price of Bitcoin has risen roughly 4 percent in the past day – a small recovery since dropping over 12 percent in the past week.

In a White House briefing, Mnuchin mirrored […]

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

G7 To Investigate Bitcoin{BTC} And Other CryptoCurrencies

Source: Wikimedia The G7 meets next week to investigate regulations for Bitcoin and other cryptocurrencies. G7 To Discuss Bitcoin Next… Read More

48 mins ago

US Treasury Blackballs Bitcoin Addresses of Chinese Drug Kingpins

The US Treasury is blacklisting specific bitcoin addresses related to Chinese druglords. | Source: Shutterstock By CCN Markets : The… Read More

49 mins ago

Modex: How blockchain can solve the fake news problem

LONDON, UK - Media OutReach - 22 August 2019 -When Satoshi Nakamoto solved the Byzantine General's problem in 2008 by… Read More

49 mins ago

Unlocking the future of blockchain innovation with privacy-preserving technologies

The origins of blockchain as many are familiar with it today can be traced back to the Bitcoin whitepaper ,… Read More

49 mins ago

Maerki Baumann Why a Swiss private bank is embracing blockchain

Maerki Baumann decided it could not sit still and hope for the best. At a time of increasing pressure on… Read More

49 mins ago

World Bank picks up millions in latest blockchain bond move

In August of last year, the World Bank and the Commonwealth Bank of Australia (CBA) announced a new bond alternative… Read More

49 mins ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More