United States Department of Treasury Secretary Steven Mnuchin, in a Monday press conference, attacked cryptocurrencies, including Facebook’s planned Libra. Mnuchin charged that Libra and other cryptocurrencies “could be misused by money launderers and terrorist financiers” and are a “national security issue.” Further stated Mnuchin: “Cryptocurrencies such as Bitcoin have been exploited to support billions of dollars of illicit activity like cybercrime, tax evasion, extortion, ransomware, illicit drugs and human trafficking.”
Mnuchin, however, likely has no real reason for such concerns about Libra. It looks like backers of Libra are prepared to help the US government crack down on cryptocurrencies and financial privacy.
Continue reading at http://ronpaulinstitute.org/archives/peace-and-prosperity/2019/july/16/libra-advancing-the-cryptocurrencies-crackdown-and-the-war-on-cash/