The U.S. Treasury Department has “very serious concerns” about Facebook’s new Libra cryptocurrency, according to Secretary Steve Mnuchin. “Libra could be misused by money launderers and terrorist financiers. Cryptocurrencies, such as Bitcoin, have been exploited to support billions of dollars of illicit activity, like cybercrime, tax evasion, extortion, ransomware, illicit drugs, human trafficking,” he said. “Many players have attempted to use cryptocurrencies to fund their malign behavior. This is indeed a national security issue.”
Loading ...
Mnuchin Sounds Alarm Over Facebook’s Money-Minting Plan
Posted by: John P. Mello Jr. July 17, 2019 02:51 AMThe U.S. Treasury Department has “very serious concerns” about Facebook’s new Libra cryptocurrency, according to Secretary Steve Mnuchin. “Libra could be misused by money launderers and terrorist financiers. Cryptocurrencies, such as Bitcoin, have been exploited to support billions of dollars of illicit activity, like cybercrime, tax evasion, extortion, ransomware, illicit drugs, human trafficking,” he said. “Many players have attempted to use cryptocurrencies to fund their malign behavior. This is indeed a national security issue.”