Secretary of the Treasury holds briefing on regulating cryptocurrency (Timestamps)

Treasury Secretary Steven Mnuchin gives a briefing to discuss regulatory issues associated with cryptocurrency. - July 15th 2019

0:15 - Bitcoin and Libra

0:30 - Money Laundering, Terrorist Financiers and other Bad Players

1:15 - Talks with Libra Association, "serious concerns"

1:40 - Bitcoin caused Cyber Crime, Extortion and Tax Evasion, illicit drugs and human trafficking; "National Security Issue"

2:30 - Anti-Money-Laundering (AML); Combat Financing of Terrorism (CFT) Safeguards

2:50 - Bank Secrecy Act (BSA), register at Financial Crimes Enforcement Network (FinCEN)

4:20 - Establishment Financial stability oversight councils working group on digital assets

5:00 - "International nature of bitcoin" (FATF), talk at G20 and G7

6:10 - US Dollar shall remain global reserve currency

Questions:

6:30 - "Do you want Facebook to be in the business of issueing cryptocurrencies?"

8:00 - "Any concerns about privacy issues with Facebook?"

8:40 - "Trump does not like Facebook. Is his cryptocurrency bias based on this?"

9:30 - "Bitcoin is decentralized. What is your advice to US citizen for investment?"

10:10 - "Are you comfortable with the launch of Facebooks libra?"

(...)

28:01 End

At 10:30 answers start to cycle around the issue: Actually we only want the dollar and blame the competitors for the bad stuff, you ALSO can do with the currency WE issue.

If you find any interesting statements from Mnuchin feel free to post them down below!

Thx and steem on!

Note: I did not pick FOX for political reasons. It just was the first best stream i could find online.'

Dear @crypto-guide

It's hard not to see that currently discussions around Facebook and their libra are attracting attention and are very intense. And to tell you the truth, personally don't know yet what to think about it.

I'm mostly interested how FED and other central banks will react if they will realize that Libra is a threat for current financial system.

Personally I will not put my trust in Facebook and I don't think I will ever use Libra. However I will surely pay attention to this project as it may turn our financial world up-side-down....

Important question I would like to ask you, and hopefully you would share your own opinion:

many people out there seem to see Libra as a threat to current monetary system. I'm one of those. However I've learned that global economy is build on debt. And all debts are in FIAT currency. So does it really matter if people use Libra to pay for their "groceries" and shop online? They still need to pay all their debts and mortgages for next 20-30 years in their local fiat currency.

For that reason alone I cannot see monetary system being changed much. Neither by libra or bitcoin or any other crypto. Debts, goverment expenses, trade oil - all of it will still require $$$.

What do you think? Upvote on the way.

Yours,
Piotr