The War on Cryptocurrency Just Intensified as Steve Mnuchin Enters the Fight

from SilverDoctors:

Steve might not be able to shoulder a rifle for very long, but his words constitute a preemptive, tactical strike on cryptocurrency. Here’s the details…

Here at Silver Doctors, we coined the term “War on Cryptocurrency” before anybody.

As goldbugs and silverbugs, we know what the government and central bankers hate more than anything in the world: Competition to their monopoly on currency.

Even if we know that Bitcoin and cryptocurrencies are not money and are not even stores of value, the fact that crypto is trying to be currency is more than enough.

Said differently, it’s easy to see that attack is the inevitable consequence when something (Bitcoin) looks to be a direct threat to sovereign debt-based fiat currency.

As such, we now have Steve Mnuchin, the man who’s name is printed on the king of all debt-based fiat currency, speaking out in what can only be described as an escalation in the War on Cryptocurrency.

Via Bloomberg:

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.”

Under U.S. law, “if you have a wallet to own bitcoins, that company has the same obligation as a bank to know” you as a customer, Mnuchin said. “We can track those activities. The rest of the world doesn’t have that, so one of the things we will be working very closely with the G-20 is making sure that this doesn’t become the Swiss bank account.”

Here’s the full exchange in video format:

So by all appearances, and straight from the horse’s mouth, it looks like the War on Cryptocurrency is intensifying.

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