Steven Mnuchin made an interesting comment during a recent interview with CNBC. He said that cash is not used for illicit activities but Bitcoin rather is. He made this statement when he was asked whether cash was as easy to launder and use for illicit purposes as bitcoin.

The Secretary of the Treasury saying "cash isn't laundered" and "nefarious activities have not been successfully done with cash" while keeping a straight face.



Mindblowing. 🤯 pic.twitter.com/gReW3pJzHL — Rhythm (@Rhythmtrader) December 27, 2019

While discussing bitcoin and crypto regulations, the host, Joe Squawk mentioned that Bitcoin can be totally disregarded, just because it is used for illegal activities. He added that cash is also used in large amounts to facilitate illicit activities.

However Mnuchin replied that cash is not used in such activities, and they have strict regulations about that.

The use of bitcoin and other privacy cryptocurrencies have increased over the last decade. However, cash is still the most preferred way of payment for terror funding, according to a study.

Claims by the US secretary of the treasure that, cash is not laundered and used for illegal activities, is absurd. This is because bitcoin is only ten years old and terror funding and money laundering has been in existence for so long.

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