US Secretary of the Treasury claims cash is not laundered, bitcoin is.

United States Secretary of the Treasury Steven Mnuchin said that cash isn't laundered or used for nefarious activities, but Bitcoin definitely is.

In an interview with CNBC, Steven Mnuchin made an interesting comment when he said that cash is not used for illicit activities, and bitcoin is. He was asked whether cash was just as easy to launder and use for nefarious purposes as Bitcoin. The answer left the host surprised as well.

 

“Mnuchin says cash is not laundered.”

While discussing bitcoin and crypto regulations, Mnuchin was confronted by the host Joe Squawk when he said that just because bitcoin is used for illicit activities, it can be totally disregarded. He added that cash is also used in huge amounts to facilitate illegal activities to which Mnuchin replied that cash is not used in those activities, and they have strict regulations about that.

 

Cash is still the king in black market and terror financing.

Even though the use of bitcoin and other privacy crypto coins have increased over the last decade, but cash is still the most preferred way of payment for terror funding according to several studies. US Secretary of the Treasury claiming that cash is not laundered and used for illicit activities is quite strange as bitcoin is only a decade old, and terror funding and money laundering are long persistent issues.

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Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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