Bitcoin shouldn't become the new Swiss bank account
Treasury Secretary Steven Mnuchin
Washington - Egypt Today
Dominant digital currency bitcoin should not be allowed to become the Swiss bank account of the modern era used to hide illicit activity, Treasury Secretary Steven Mnuchin said Friday.
Mnuchin pledged to work with other governments, including within the Group of 20, which includes the world's major economies, to monitor the activity of those who invest heavily in the cryptocurrency.
"One of the things we will be working with the G20 on is making sure that this doesn't become the Swiss numbered bank account," he said at a conference, referring to the famously secretive accounts used by some to hide ill-gotten gains.
"We want make sure that bad people can't use this currency to do bad things."
US rule require banks to have information on customers with bitcoin accounts to try to prevent money laundering and other illicit activity.
Mnuchin acknowledged that some central banks were looking into the possibility of creating digital currencies instead of issuing cash, but said the US Federal Reserve was not yet considering such a move.
Asked about the possibility that Russia would create its own virtual currency to escape financial sanctions, Mnuchin said "I don't think that's a concern."
Source:AFP
- Friday ,16 November GMT 15:05 2018 World Bank Regional Vice President First Visit to West Bank and Gaza
GMT 14:08 2018 Friday ,14 December
Bank of Russia raises key rateGMT 13:23 2018 Thursday ,13 December
Philippine central bank holds overnight borrowing rate steadyGMT 11:33 2018 Tuesday ,11 December
Top EU court backs legality of ECB bond buyingGMT 20:46 2018 Wednesday ,05 December
World Bank funds water projects in North Kordofan StateGMT 15:06 2018 Friday ,30 November
Egypt, World Bank seek cooperation in solid waste recyclingGMT 12:21 2018 Wednesday ,28 November
BisB silver partner of World Islamic Banking ConferenceGMT 09:10 2018 Thursday ,22 November
AIIB Jin Liqun praises Suez Canal projectsGMT 15:05 2018 Friday ,16 November
World Bank Regional Vice President First Visit to West Bank and GazaRussia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
Moscow - TASS
The Astra-06 apparatus developed by specialists of Russian Space Systems (RSS) was used for the first time as additional telemetric equipment aboard the manned Soyuz MS-11 spacecraft launc...Read More
GMT 19:37 2011 Monday ,12 December
The 1966 Scandal That Almost Ruined the Monte Carlo Rally
GMT 09:51 2017 Monday ,09 October
ADGM sets out guidance on initial coin offerings and virtual currencies
GMT 07:58 2013 Wednesday ,26 June
Moussa demands Egyptian president\'s resignation
GMT 13:14 2018 Wednesday ,05 September
Ukrainian MP sues extremist parliament speaker for spouting Nazi propaganda
GMT 19:43 2017 Saturday ,29 July
Outgoing UNEP director Dr. Iyad Abumoghli honoured
GMT 11:49 2016 Thursday ,29 December
Tokyo slumps as yen strengthens, Toshiba plunges again
GMT 04:21 2012 Friday ,13 July
Support Libya!GMT 16:33 2012 Thursday ,03 May
Shando: No death threats from Mohammed Mounir
GMT 16:33 2018 Sunday ,21 January
At least 18 dead in Kabul hotel attack, including 14 foreigners
GMT 13:47 2017 Thursday ,21 December
Turkey seeks to jail NBA star Kanter over insulting Erdogan
GMT 13:06 2017 Monday ,28 August
Rogina expresses solidarity with Sameh
GMT 05:34 2024 Wednesday ,07 February
Meghan presents fashion award to wedding dress designer Waight Keller
GMT 11:11 2018 Monday ,19 November
Yemen's Houthis to halt missile, drone attacks on Saudi coalition
GMT 14:19 2018 Sunday ,18 November
Meet Michelle Obama’s stylist Meredith Koop
GMT 01:43 2013 Thursday ,19 December
Walmart store not liable for customer\'s racial commentsGMT 08:23 2011 Sunday ,25 December
JEM\'s leader Khalil Ibrahim killed by Sudanese Army
GMT 21:07 2016 Monday ,04 January
Saudi Shura Council condemns attacks on Saudi Embassy in TehranGMT 12:01 2011 Thursday ,04 August
Troicki, Verdasco advance at rain-hit ATP WashingtonGMT 04:38 2011 Monday ,31 October
Philippines welcomes symbolic \'7 billionth baby\'
GMT 15:10 2018 Friday ,07 September
Cosmonauts may examine hole in Soyuz spacecraft’s hull during spacewalk — sourceGMT 06:31 2012 Wednesday ,13 June
Norway\'s world champ Dale Oen died of heart attack
GMT 05:18 2013 Wednesday ,03 July
Fresh mortar attacks kill 7 in Damascus, Aleppo
GMT 13:53 2013 Thursday ,20 June
Reviving the \'dying art\' of calligraphy in India
GMT 16:42 2017 Saturday ,06 May
29 schoolchildren killed in Tanzania bus crash: school officialGMT 15:29 2011 Tuesday ,15 November
Ongoing instability in Algeria\'s Kabylia mountains
GMT 00:29 2017 Monday ,01 May
Oman's GDP per capita expected to be $18,750 in 2020
GMT 17:13 2017 Sunday ,30 July
HRH Crown Prince meets UK Ambassador
GMT 15:11 2017 Wednesday ,09 August
2 terrorists killed, another one severely injuredGMT 18:14 2011 Saturday ,27 August
Online voting assistance tool \'TuniVote\' presentedGMT 15:26 2011 Thursday ,10 November
Western black rhino declared extinctGMT 09:10 2011 Sunday ,24 July
Rangers ready for Euro test, insists new manager
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor