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.