Bitcoin shouldn't become the new Swiss bank account

Publish date: Sun, 14 Jan 2018, 04:53 PM

WASHINGTON: 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." --AFP

Discussions
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tuapuikia

Bitcoin is a scam, big time

2018-01-15 12:17

Tai KT

many will burn their hand soon.

2018-01-15 18:55

PlsGiveBonus

Bitcoin is good, full of loop holes.
Rich people love loop hole.
:)
Stock market is lousy, all loop holes are patched by regulator.

2018-01-17 12:16

PlsGiveBonus

Bitcoin make more millionaire than any other asset class.
It is the only wealth creation market that banker hate the most.
Banker do not want you to be richer than them.
:)

2018-01-17 12:18

PlsGiveBonus

If you follow banker wants and buy stock market for long terms.
You are crazy!!
:)

“We’re on the edge of cliff right now. When you’re investing for the long term in the stock market where there is no connection between stock price and reality, you’re crazy.” The gap is growing between the rich and the poor. The rich don’t work for money. F you went to school and got a job, and you’re saving money and investing in the stock market today, you’re going to lose.”
Robert Kiyosaki, author of “Rich Dad Poor Dad”

2018-01-17 12:25

PlsGiveBonus

Holding Bitcoin make me happy
Just like gold, I hold gold and I feel super happy, I don’t care about the price is low or high!
Everyone love Bitcoin, only banker hate it.

2018-01-17 12:27

PlsGiveBonus

Let me teach you how to use Bitcoin loop holes:
1. Borrow a lot of money from the bank, USD is low interest right now, you can borrow as much as you want
2. Put all money into Bitcoin.
3. Declare bankruptcy and bank cannot seize any of your asset, because there is no physical asset to be seized
4. Run to other country and enjoy the wealth you have accumulated in Bitcoin.

:)
The last time rich people use loop hole on stock market and property market, but now it is no longer working, the new toy for rich people now is Bitcoin.

2018-01-17 12:37

PlsGiveBonus

Now is the good opportunity to buy more Bitcoin
CBOE contract expired on 17/1
CME contract expires on 26/1
Wait for this two day to accumulate more BTC

2018-01-17 14:11

PlsGiveBonus

After the future contract, BTC will head to 30k, 40k, ...100k, 1m, ...

2018-01-17 14:14

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