Mike Pompeo, Donald Trump’s secretary of state, invoked 9/11 to explain the gravity of the threat that bitcoin presents to national security. | Source: AP Photo/Carolyn Kaster
By CCN Markets: When Trump adviser Mike Pompeo addressed crypto regulation during a Tuesday morning interview, he claimed that he didn’t want to start a “viral moment.” However, at least one of his remarks threatens to spark some blowback from bitcoin investors.
Mike Pompeo: ‘Anonymous’ Bitcoin Is a National Security Threat
Pompeo, President Trump’s second secretary of state, suggested that the so-called “anonymous transactions” associated with cryptocurrency (almost always incorrectly) presented a major risk to US national security.
To illustrate his point, he invoked the 9/11 terrorist attacks.
“Look, the risk with anonymous transactions is one that we all know well. We know this from 9/11 and terror activity that took place in the 15 years preceding that where we didn’t have good tracking, we didn’t have the capacity to understand money flows and who was moving money.”
“We need to preserve a financial system,” he added, “a global financial system.”
Secretary Pompeo was careful to avoid hot-button language – he didn’t even reference bitcoin or cryptocurrency directly – but the point was clear: authorities must have the ability to track bitcoin payments just as easily as they can track other financial transactions. Otherwise, bitcoin might just fund the next 9/11.
The 9/11 terrorist attacks, of course, occurred long before the creation of bitcoin. And contrary to what US Treasury Secretary Steven Mnuchin might want you to believe,