(CNBC)
Treasury Secretary Steven Mnuchin has concerns about Facebook’s proposed cryptocurrency and its potential illicit use.
In a press conference Monday, Mnuchin said Facebook’s planned digital currency “could be misused by money launderers and terrorist financiers” and that it was a “national security issue.”
“Cryptocurrencies such as bitcoin have been exploited to support billions of dollars of illicit activity like cyber crime, tax evasion, extortion, ransomware, illicit drugs and human trafficking,” Mnuchin said, adding that he is “not comfortable today” with Facebook’s launch.
“They have a lot of work to do,” he said. Read more