"...Cash is Never used for Illicit Activities"

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(Edited)

On topic of fake news...

Don't you think the same as I when hearing/reading about the recent statements made by the US Treasury Secretary Steven Mnuchin? He wrote in a Tweet:

“‘The existing system has never been used for illicit activities but we're going to make sure crypto is isn't used for illicit activities like the current system.’ Got it.”

source: https://cointelegraph.com/news/us-treasury-secretary-says-cash-is-not-laundered-as-much-as-bitcoin-is

Really?


What is this guy saying? Cash is never been used for criminal activities? It is not used for money laundering? The underworld is using Bitcoin, not cash to pay and get paid for their services?

Bitcoin shall not become the equivalent of Swiss-numbered bank accounts

source: https://cointelegraph.com/news/us-treasury-secretary-says-cash-is-not-laundered-as-much-as-bitcoin-is

...is another statement this same guy made.


© CCN (source)

Surely, all illicit activities are handled with Bitcoin :)

In europe 30 something percent of all the cash is in bills of 500 euro. A bill that no shop, restaurant or bar accepts. Logically, most of these 500 euro bills are in the hands of the underworld.

Why would these people use Bitcoin? Although many people are told and actually believe Bitcoin is anonymous, the reality is that Bitcoin is at most pseudo-anonymous. Cash - for that matter - is 100% anonymous. Therefor a much better currency for criminals to use.

Anyway, I for sure had a big laugh when reading the story of this mister Mnuchin. Subsequently, the laugh resulted in a more positive state of mind... Hence, I can safely state: "mister Mnuchin managed to increase my happiness levels!"

Thanks mister Mnuchin

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2 comments
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That is a ridiculous thing to say. The largest currency for crime is definitely cash. It sounds like this is just more negative and unfounded FUD towards crypto.

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Yeah, FUD and/or simply stupidity; Anything goes in the US of A :)

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