In an interview for CNBC the secretary of the Treasury Steve Mnuchin said that they will not allow bitcoin to become another Swiss numbered bank account.
Secrecy Swiss bank accounts have been known historically for offering privacy to account holders.
Mnuchin added that they will regulate bitcoin and cryptocurrencies with strict regulations so they do not become anonymous like those Swiss bank accounts.
Mnuchin concerns are tied to the possibility of using bitcoin for illicit purposes, especially money laundering.
In response to his concerns, he was asked by the interviewer if cash is not being used for illicit purposes all the time especially money laundering. purposes.
“I don’t think that’s accurate at all, that cash is laundered all the time. We combat bad actors in the U.S. dollar every day to protect the U.S. financial system.” Mnuchin replied
— Squawk Box (@SquawkCNBC) July 18, 2019
Maybe the financial system needs to be protected from bankers and governments. They need to learn better about what their job is. Their job is to serve not to control.
Bitcoin offers better transparency compared to FIAT currencies created by governments from thin air. Bitcoin has a public ledger that can not be altered. If someone is really concerned about money laundering, he should like bitcoin because it is trackable more easily than FIAT money.
Those who try to put bitcoin on bad light connecting it with the crime are uninformed people or are those who have a conflict of interest because bitcoin is a threat for their business.
Of course, regulations are necessary, but which money can we trust more than the money that is printed every day from those who lie to us every time or the nerd money which is based on a computer code which does not need to be trusted but can be verified.
Subscribe To our Newsletter
And receive the Bitcoin Whitepaper Poster