“Bitcoin Should Not Be Analogous to Anonymous Bank accounts”

US Treasury Secretary Stephen Mnuchin said that in order to prevent Bitcoin from becoming the equivalent of anonymous bank accounts in Switzerland, “extremely tough” regulation is necessary.

“We are going to make Bitcoin not become the equivalent of anonymous bank accounts in Switzerland, which obviously would pose a risk to the financial system,” said Steven Mnuchin in an interview with CNBC.

The US Treasury Secretary also noted that “billions of dollars” are involved in illegal activities, and this must be stopped.

“I want to be sure that any person who uses Bitcoin – regardless of its value – will use it legally, and not for criminal activity,” he said.

Earlier, Mnuchin expressed concerns about the Libra cryptocurrency being developed by the social network Facebook. In his opinion, steyblecoin can be used for illegal activities.