Mnuchin Holds Briefing on Regulating Cryptocurrency (and Confirms Bitcoin as an Investment in Regulated US Exchanges)

After Libra’s announcement, and the President and FED chairman speaking out on Libra and Bitcoin, Treasury Secretary Mnuchin held a briefing to provide clarity on crypto.

The briefing confirmed a few things:

• Libra has more work to do to show it is ready to launch a currency (this doesn’t mean it can’t, it means it has to show it is complying with regulators and take more time to show it is ready).
• Investing and speculating on Bitcoin and using it for payments is OK if done within the law (for example using Coinbase and Square would be OK by this logic).
• Using Bitcoin on the dark web, or for other illegal activity is clearly not OK.

In short, we have confirmation that legal crypto use is OK in the United States.

See: LIVE: Mnuchin holds briefing on regulating cryptocurrency