Facebook Libra raises 'very serious concerns,' says Treasury Secretary Steven Mnuchin

CNET | 7/15/2019 | Oscar Gonzalez
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Treasury Secretary Steven Mnuchin says the department has concerns over Facebook Libra.

Since it was announced in June, Facebook has received pushback for its Libra cryptocurrency from government officials in both the US and Europe. On Monday, Treasury Secretary Steven Mnuchin added his concerns and questioned what's being done to curb illegal activity involving cryptocurrency.

Treasury - Department - Concerns - Libra - Money

"The Treasury Department has expressed very serious concerns that Libra could be misused by money launderers and terrorist financiers," Mnuchin said during a press briefing Monday. "Cryptocurrency such as Bitcoin have been exploited to support billions of dollars of illicit activity. This is indeed a national security issue."

Mnuchin said one of the reasons for his comments is due to...
(Excerpt) Read more at: CNET
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