US Secretary of State Claimed That Cryptocurrency Should Be Regulated Like SWIFT
On August, 20 in an interview with CNBC Channel Michael Pompeo was asked how to regulate Facebook's Libra or bitcoin in the best way.
The politician replied:
My sense is this: We should use the same framework that we use to regulate all other electronic financial transactions today. That’s essentially what these are. These are monies moving through markets, or in some case disintermediated transactions.
The rules that apply to transactions “flowing through SWIFT or flowing though our financial institutions ought to apply to those transactions as well,” explained Pompeo. “I concede it will be difficult to do.”
During a heated debate on similar issues, Trump's adviser also raised the question of using cryptocurrencies in financing terrorism and for money laundering.
He claimed that if such private transactions became the norm, it would “decrease the security for the world if that’s the direction we travel."
The ability to track monetary flows around the world "has helped keep the entire world secure and to fight terrorism and other nefarious activity … We need to preserve a financial system, a global financial system, that protects that," said Pompeo.
However, he also agreed with the interviewers who joked that all money laundering has been conducted using fiat currency until now.
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