Former US Treasury Secretary ceased to be an opponent of bitcoin – Bits Media

Former US Treasury Secretary Steven Mnuchin Changes His Hostility To Bitcoin To More Loyal. However, he himself is not going to invest in cryptocurrencies..

Former U.S. President Donald Trump's administration has been known for its dismissive attitude to cryptocurrencies, And Trump called Bitcoin "fraud". However, in his recent speech, Mnuchin said, that his opinion about Bitcoin began to gradually change.

According to Mnuchin, Blockchain technology, on the basis of which bitcoin functions, really "incredible". It has great potential, which can be used in different fields, especially in the finance industry.

“If people want to purchase bitcoin, this is quite normal. Buying bitcoin should not differ from the purchase of gold or any other asset. I would not want to keep bitcoin in my investment portfolio, But I don't mind, so that other people invest money in it ", – Mnuchin said.

He also expressed a desire, so that Bitcoin fully complies with the law on banking secret (BSA) and other regulatory requirements, since this will simplify its ubiquitous implementation. Last year, the Office of the US Cash Controller (OCC) already proposed regulatory changes, thanks to which cryptocurrency firms will be easier to interact with banks.

The cryptocurrency community perceived the statements of Mnuchin with optimism. So, The author of the bestseller "Brief History of Money, Or all, what you need to know about Bitcoin »Shedin ammus (Saifedean Ammous)
Wrote on Twitter, that he is pleased to hear such words from a person, which was previously an ardent opponent of Bitcoin.

Nonetheless, The current Minister of Finance Janet Yellen (Janet Yellen) I am concerned about those, that cryptocurrencies can be used for drug trafficking, money laundering and financing terrorism. Therefore, Yellen stands for that, so that the government has developed a rigid regulation of cryptocurrencies.