Steven Mnuchin, the previous US Treasury Secretary, has announced he will not be putting his money into digital currencies.
Mnuchin also highlighted the significance of keeping the American dollar robust.
Previous Worries of Mnuchin Regarding Crypto
Throughout his time in office, Mnuchin turned into a prominent crypto critic, famous for his negative comments on Bitcoin. Toncoin (TON) Value Forecast for March 26th
Back in 2019, Mnuchin indicated that virtual currencies could endanger national security because they are used for illegal actions.
The US Treasury Department, under his direction, suggested more stringent “Know Your Customer” regulations for independently managed crypto wallets, a step that triggered considerable resistance from politicians.
However, he then mentioned that purchasing Bitcoin was “completely fine“.
From Crypto Doubter to Crypto Supporter
Janet Yellen, who succeeded Mnuchin, has supported crypto regulation to lessen dangers and stop scams. Yellen stated in a CNBC interview in 2022 that although she recognized some advantages of virtual currencies, she remained “doubtful” about them.
Scott Bessent, the recently named US Treasury Secretary, is particularly known for his crypto-supporting position. Bessent is also against the concept of creating a CBDC (Central Bank Digital Currency).
