Former US Treasury Secretary Has Changed His View of Bitcoin

Former US Treasury Secretary has changed his view of Bitcoin. Mnuchin is not as negative about Bitcoin as he used to be.

Steven Mnuchin, the former Treasury Secretary of the USA, whose name has been mentioned by the cryptocurrency market especially in the last few months, stated that his opinion about Bitcoin has changed, albeit slightly. Mnuchin, who participated in CNBC's Squawk Box program, stated that the right to provide custody services to banks on Bitcoin was given by the OCC during their period, and made the following statements: “My view on Bitcoin has changed slightly, but I still think it's consistent. First issue here, really is the technology underlying blockchain is incredible. It provides a lot of benefits in fintech and finance. The second issue is Bitcoin. If people want to buy Bitcoin like gold or other assets, that's fine. I don't want to have Bitcoin in my portfolio, but it's okay for people to want it.”

"It Should Be Compliant With The Regulations..."

“It should be fully compliant with the Banking Secrecy Act (BSA) and regulations. Last year, in our era, the OCC institution allowed banks to store Bitcoin. The reason we did this was to show that this environment has evolved in the regulated world. So my idea here is clear, people should buy if they want to buy it. It may think it will rise or fall, but ultimately it must be in a regulated structure and in line with BSA rules.” Mnuchin, stating that he is against Bitcoin and cryptocurrencies in his statement in 2019, said, "I bet I will not even talk about Bitcoin as a Treasury Secretary in 5-6 years from now on. This will not be necessary."