Former U.S. Treasury Secretary Steven Mnuchin now says buying Bitcoin is "perfectly fine"
Former U.S. Treasury Secretary Steven Mnuchin now says buying Bitcoin is "perfectly fine" By DailyBitcoin Editor

Mnuchin said there was no problem buying Bitcoin

, that it was similar to investing in gold, but that he didn’t do it.

***

After stepping down as U.S. Treasury Secretary to make way for Janet Yellen, Steven Mnuchin gave a few statements about Bitcoin

and many are angry and saying why he didn’t give them earlier nor was he as open when he was the country’s monetary authority.

During his appearance Wednesday on CNBC’s “Squawk Box,” former U.S. Treasury Secretary Steven Mnuchin said that buying Bitcoin

was “perfectly fine.” Though he also acknowledged that he doesn’t own.

“If people want to buy #bitcoin as a substitute, it’s no different than buying gold or some other asset, that’s fine. Personally, I don’t want to have it in my portfolio

, but if people want to, that’s perfectly fine, ” says Steven Mnuchin.

He

also thinks that the biggest cryptocurrency should be in “a regulated world”

:

Some people think it will go up. Some people think it will go down, but it should be in a regulated world.

Mnuchin admits his view has evolved “a little bit” since he left office, but he still wouldn’t keep Bitcoin in his personal wallet. He adds that <a href=”https://www.diariobitcoin.com/glossary/blockchai

n-2/” target=”_blank” rel=”noopener”>BlockchainBitcoin, the underlying technology of Bitcoin, is “really amazing,” as it enables many use cases in fintech and finance.

See also  Facebook tempted to participate in the NFT industry

Before and after the Treasury

These are his first statements with such positive responses on cryptocurrencies.

In February 2020, Mnuchin said there would be “significant new rules on cryptocurrencies.” In this regard, he stressed at the time:

“…We’re about to roll out some significant new requirements on FinCEN [Financial Crimes Enforcement Network]. We want to make sure that technology advances, but on the other hand, we want to make sure that cryptocurrencies are not used for the equivalent of the old Swiss secret number bank accounts.”

Given those strong statements, that month, UToday recalls that a survey conducted by stock-to-flow model creator PlanB described the Treasury secretary as the biggest threat to cryptocurrency.

In June 2020, a leaked excerpt from the controversial book written by former US National Security Advisor John Bolton reveals that President Donald Trump had plans to attack the Bitcoin ecosystem , framed as part of a series of financial sanctions that would be imposed on the Chinese government in 2018. And that Trump would have issued the order to the Secretary of the Treasury, Steve Mnuchin, to concentrate his efforts on shutting down Bitcoin on China, rather than negotiating other trade solutions to iron out differences between the countries.

But that’s not the only time he’s spoken out against it. In a July 2019 interview, Mnuchin compared Bitcoin to a “numbered bank account in Switzerland,” raising concerns about illicit financial activities:

I want to be careful that anyone who is using Bitcoin, regardless of the price, is using it for proper and not illicit purposes.

But he’s not the only one in office who has been a foe of crypto, Janet Yellen is too and has sharply criticized that it could be linked to illegal activities, including terrorism. She has also called Bitcoin of <a href=”https://www.diariobitcoin.com/mercados/bitcoin-mercados/secretaria-del-tesoro-de-ee-uu-janet-yellen-dice-que-bitcoin-es-extremadamente-ineficiente-al-tiempo-que-cae-de-preio/”>”extremely inefficient”.

See also  Ethereum for $4000 | BitHub.pl

Sources: CBNC, UToday, archive

DailyBitcoinversion

Image from Unsplash