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Mnuchin says Treasury has growing concerns about crypto money laundering and Libra – ForexLive

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Comments from Mnunchin

Mnuchin
  • 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.

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