Secretary of US Treasury Steven Mnuchin Says He Would Not Be Using Bitcoin Ever

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Steven Mnuchin, the 77th Secretary of the United States Treasury, is perhaps one of Bitcoin’s loudest. On July 24, he appeared on CNBC’s Squawk Box and once again voiced out his pessimistic view about the world’s most significant cryptocurrency.

According to the Secretary, he visualizes himself ten years from now, not talking about the controversial Bitcoin. He even added that in 5 or 6 years, he would leave his post in the US Treasury and would have other more important priorities in life.

Mnuchin’s had been in the news lately because of his views about Bitcoin and other cryptocurrencies. Just like the US president and other powerful financial regulators in the world, Mnuchin suspects that Bitcoin is being used for illicit activities. He sees the speculative investment as a primary tool for money laundering, terrorist financing, and the likes.

However, despite the new bearish remarks, the crypto industry remained buoyant. Barry Silbert, the founder and CEO of Digital Currency Group, said that Mnuchin’s comments were “complete and total validation of Bitcoin.”

Mnuchin’s Stand on Money Laundering

In another appearance at Squawk Box, Steven Mnuchin explained that fiat money, although being laundered, is not as vulnerable as Bitcoin is. He also mentioned that the United States leads the game worldwide when it comes to Anti-Money Laundering systems.

Previously, Cointelegraph reported about the essay written by Nouriel Roubini, a famous cryptocurrency critic. BitMEX was the subject of the article wherein Roubini heavily implied the knowledge and participation of the exchange with criminals and terrorists. He mentioned about BitMEX insiders who revealed that daily transactions involving fraudsters from Iran, Russia and elsewhere happen with the full knowledge of the exchange. Roubini concluded that BitMEX turns a blind eye since they gain massive profits from the dealings.

 

 

 

 

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