US Treasury Secretary Addresses Anonymity, Sanctions And Digital Currencies

The US Secretary of the Treasury, Steven Mnuchinmade a number of statements regarding the international use of digital currencies at a meeting of the Economic Club of Washington on Friday.

The Secretary expressed his concern that Bitcoin wallets could potentially become the modern equivalent of the anonymous Swiss bank account. He intends to work with the G20 nations to offer US tracking abilities in order to prevent such misuse from occurring. He said:

“If you have a wallet to own Bitcoins, that company has the same obligation as a bank to know [you]. We can track those activities. The rest of the world doesn’t have that, so one of the things we will be working very closely with the G-20 is making sure that this doesn’t become the Swiss bank account.”

Mnuchin doesn’t seem to understand that not all wallets are hosted by “companies.”

Industry opinion

Cryptocurrency industry experts, however, aren’t so thrilled about the idea of more regulations. For example, Sergei Sevriugin, CEO and Founder of risk-sharing platform REGA, told Cointelegraph: […]

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