Comments from Mnunchin
- The US is focusing on “growing concern” about misuse of crypto
- Has serious concern that Facebook’s Libra would be misused
- Treasury has been very clear to Facebook and Bitcoin users that they must implement the same AML protections as traditional financial service providers
- Bitcoin is a national security issue
- Our #1 issue is that we don’t want bad actors using cryptocurrency
- On Libra: “I’m not comfortable today”
- “I have no idea why Bitcoin trades where it does”
Seems as though Mnuchin isn’t a big fan of crypto. There was some fear that he would bring down the hammer but this sounds more like a warning.
Bitcoin fell to $10,300 from $10,500 after the press briefing was announced.