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Mnuchin Warns Against Bitcoin Becoming the Next ‘Swiss Bank Account’

U.S. Treasury chief warns against a new ‘Swiss bank account’
No concern about Russia’s use of virtual money: Mnuchin

Video player cover image — U.S. Treasury Secretary Steven Mnuchin says he’s "concerned consumers could get hurt" by cryptocurencies.(Source: Bloomberg)

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January 12, 2018, 2:56 PM UTCUpdated onJanuary 12, 2018, 4:01 PM UTC

U.S. Treasury Secretary Steven Mnuchin said he will work with the Group of 20 nations to prevent cryptocurrencies such as bitcoin from becoming the digital equivalent of an anonymous Swiss bank account.

Speaking to the Economic Club of Washington on Friday, he said wants to ensure “bad people cannot use these currencies to do bad things.”