Former US Treasury Secretary Says People Who Buy Bitcoin Are “Absolutely Good”

Former US Treasury Secretary Steven Mnuchin spoke on Wednesday (July 14th) in CNBC’s “Squawk Box” about Bitcoin, cybersecurity and the US economy.

Mnuchin was asked if his views on Bitcoin have evolved since he was Treasury Secretary. At the time, Mnuchin rejected the cryptocurrency, saying it had no intrinsic value.

Steven Mnuchin – Former US Secretary of the Treasury

Since then, more and more large companies and well-known traders have moved on to Bitcoin. Large investment banks like Goldman Sachs, Morgan Stanley and Citigroup have already started or are in the process of offering crypto products or services to their customers.

Whether his views on Bitcoin will evolve, Mnuchin said:

“I think my perspective has evolved a bit, but it has been pretty consistent. If people want to buy bitcoin instead, which is no different from buying gold or any other asset, that’s fine. Personally, I don’t want it in my portfolio, but if people want it, that’s perfectly fine. “

Mnuchin added that “the blockchain technology is amazing” noting that there are many applications that use it.

As for Bitcoin and other crypto assets, Mnuchin stressed the importance of regulating them, including through the Bank Secrecy Act (BSA).

Noting that the Office of the Comptroller of the Currency (OCC) under the Trump administration had approved banks last year to provide crypto custody, he stated:

“The reason for this is that we want to make sure it is regulated worldwide and has to be fully BSA compliant.”

Mr. Teacher

According to News.Bitcoin

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