• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
  • 200 FREESPINS
Breaking News: HYPE Heats Up: Major Company Adds Hyperliquid to Its Crypto Treasury Strategy
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
  • 200 FREESPINS
Bitcoinist.com
No Result
View All Result
Breaking News: HYPE Heats Up: Major Company Adds Hyperliquid to Its Crypto Treasury Strategy
mnuchin bitcoin

US Treasury Sec: We Don’t Want Bitcoin Becoming a ‘Swiss-Numbered Bank Account’

Eustace Cryptus
by Eustace Cryptus
5 years ago
·
Posted in Bitcoin, News, News teaser
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Now that the U.S. Congress and Senate have finished their hearings with Facebook, U.S. Treasury Secretary Steven Mnuchin has set his regulatory sights on Bitcoin.


Increased Regulation on the Table Again

It appears that the aftermath of the US Congress and Senate Banking Committee’ hearings on Facebook’s Libra coin could present a new set of regulatory problems for cryptocurrency as a whole. On Thursday, US Treasury Secretary Steven Mnuchin promised that the U.S. will police cryptocurrencies with “very, very strong” regulations and he pledged that under his watch,

We’re going to make sure that Bitcoin doesn’t become the equivalent of Swiss-numbered bank accounts. 

According to Mnuchin, stringent regulation will ensure that cryptocurrency transactions remain transparent and prevent them from posing the same sort of shadow banking risks that the Swiss system facilitates. Mnuchin told CNBC’s Squawk Box: 

I want to be careful that anybody who’s using Bitcoin regardless of what the price is – is using it for proper purposes and not illicit purposes.”

Mnuchin also said that “there are billions of dollars of transactions going on in Bitcoin and other cryptocurrencies for illicit purposes.”

Regulate Bitcoin? What about the dollar?

There is a degree of credibility to Mnuchin’s concerns as there are numerous instances of Swiss banks offering clients shadowy banking services through the provision of numbered accounts which are only known to the account holder and a small circle of bankers. 

When asked whether Bitcoin’s use as the go-to currency for brokering illegal transactions strikes it off as a legitimate currency, Mnuchin said: 

I don’t think that’s accurate at all, that cash is laundered all the time. We combat bad actors in the U.S dollar every day to protect the U.S. financial system.” 

Cryptocurrencies have come under the spotlight this week as both legislative houses of the US government look into the exact nature of Facebook’s Libra cryptocurrency. Google searches for Bitcoin are on the rise and most notably, searches for ‘Shitcoins’ have exploded after Congressman Warren Davidson used the term during yesterday’s Congressional Libra hearing.

Do you think the Trump Administration will make cryptocurrency regulation a priority? Share your thoughts in the comments below! 


Images via Shutterstock, Twitter @SquawkCNBC

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Eustace Cryptus

Eustace Cryptus

Follow

Educator by day, crypto zealot at night. I scour charts, swing trade & ponder blockchain’s ability to transform cities, commerce and the entire banking system as we know it!

Full Profile

Related Posts

Bitcoin

Bitcoin’s True Value May Be As Global Settlement Layer, Not Just Currency: Ripple CTO

2 hours ago
Vanguard

Bitcoin Naysayer Vanguard Makes Bold Bet On Strategy Stock–Details

4 hours ago
Darknet

Gone Without A Trace: Darknet Bitcoin Platform Vanishes In Suspected Scam

16 hours ago
Coinbase

‘Pure Misinformation’: Coinbase Denies Role In Leak Tying Binance To Trump Coin

1 day ago
cena bitcoinu nove historicke maximum ATH 123 tisíc dolárov

Cena Bitcoinu dnes vyskočila nad 123 000 $. Začína „krypto týždeň“

1 day ago
Metaplanet

Metaplanet Just Bought 800 Bitcoin—And It’s Not Done Yet

1 day ago
Please login to join discussion

Premium Sponsors

Press Releases

  • Earn $3600 a Day – Start a Bitcoin Miner Using...

    5 hours ago
  • ETHRANSACTION launches enterprise-level cloud mining...

    10 hours ago
  • PaladinMining has a major upgrade, and users can receive...

    14 hours ago
  • SOL XRP BTC Holders Turn to SWL Miner for Passive Income...

    15 hours ago
  • Smart ETHRANSACTION cryptocurrency mining helps you seize...

    16 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
  • 200 FREESPINS
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.