United States Treasury Secretary Steven Mnuchin voiced new pessimistic views on Bitcoin today, saying that he in all probability won't be talking regarding the number one cryptocurrency in as shortly as 5 years. In an interview with “Squawk Box” CNBC on July 24, Mnuchin said:
“I won’t be talking regarding Bitcoin in ten years, I will assure you that […] I'd bet even in 5 or 6 years I’m not talking regarding Bitcoin as Treasury Secretary. I’ll have other priorities […] I will assure you I will be able to personally not be loaded up on Bitcoin.”
Mnuchin’s latest remarks follow a recent statement concerning however cryptocurrencies primarily exist as a vehicle for crime and speculative investment, saying, “I assume to a large extent, these cryptocurrencies are dominated by illicit activities and speculation.”
However, chief executive officer and Digital Currency Group founder Barry Silbert celebrated the Treasury Secretary’s remarks, saying that they were “complete and total validation of Bitcoin.”
Money laundering
Mnuchin conjointly recently claimed that fiat money isn't laundered to the extent that Bitcoin is. In a separate squawk box interview, Mnuchin said that the U.S. has the strongest Anti-Money laundering system within the world. Bitcoin, on the other hand, he believes is vulnerable to money laundering.
As antecedently reported by Top Market Group, economic expert and anti-cryptocurrency pundit NourielRoubini recently wrote an essay with high criticism of the crypto exchange BitMEX, implying that the exchange knowingly launders cash for terrorists and criminals:
“BitMEX insiders disclosed to me that this exchange is additionally used daily for money laundering on an enormous scale by terrorists and alternative criminals from Russia, Iran, and elsewhere; the exchange will nothing to prevent this because it profits from these transactions.”
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