United States Secretary of State Mike Pompeo believes Bitcoin (BTC) ought to be regulated the identical means as different digital monetary transactions.
Security dangers of lowered governmental monitoring
In an interview with Squawk Box on Aug. 20, Pompeo identified the chance of nameless transactions related to crypto, saying:
“The risk with anonymous transactions is one that we all know well. We know this from 9/11 and terror activity that took place in the 15 years preceding that where we didn’t have good tracking, we didn’t have the capacity to understand money flows and who was moving money.”
CNBC host Joe Kernen introduced up the topic of Bitcoin in phrases of terrorism and geopolitical tensions within the Middle East. Specifically, Kernen recalled a viral claim by Treasury Secretary Steven Mnuchin that money shouldn’t be used for nefarious actions as a lot as Bitcoin is.
When requested for his stance on Mnuchin’s statements, Pompeo appeared to help the secretary to a level, expressing his hope that crypto and nameless transactions is not going to grow to be the norm since that “would decrease the security for the world.”
However, in distinction to Mnuchin’s intentions to implement robust laws within the house, Pompeo expressed his imaginative and prescient of regulating Bitcoin the identical means as all different digital monetary transactions.
Last month, a former government at German multinational funding financial institution Deutsche Bank printed an article claiming Bitcoin is a number one indicator of hidden geopolitical tensions.