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US State Secretary Mike Pompeo Wants Crypto Regulated Like E-Transactions

Mike Pompeo, the US Secretary of State, expresses support for Bitcoin (BTC) being regulated like any other e-transaction. Pompeo made the statement during a recent interview with Squawk Box. 

Anonymous Transactions

Pompeo suggested that the “anonymous transactions” that happen with cryptocurrencies present a large threat to US national security. He also tried to underline his point by citing the 9/11 attacks. 

In the interview, the Secretary of State said that Americans clearly understand the dangers of anonymous transactions from the 9/11 tragedy and the activities terrorists engaged in before the attack on the Twin Towers. 

Pompeo acknowledged that the US did not have a good tracking system in the 15 years before 9/11. He said the country didn’t have the capability to understand the flow of money and who was moving the currency during that time.

Joe Kernan on the Subject

The subject was raised by CNBC host Joe Kernan. The newscaster brought up the topic of cryptocurrency in line with terrorism and the geopolitical tensions currently prevailing in the Middle East. Kernen cited Treasury Secretary Steven Mnuchin’s infamous claim that cryptocurrencies can be used for illegal activities like money laundering while cash isn’t used as much. 

When prompted about his opinion on Mnuchin’s claims, Pompeo seemed to agree with the Treasury Secretary to some extent. He expressed his hope that anonymous transactions and digital currencies won’t become mainstream as it “would decrease the security for the world.” 

But unlike Mnuchin’s plan to impose strong regulations in the crypto arena, Pompeo prefers to regulate Bitcoin similar to how other financial e-transactions are managed.

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