US Government Fears Bitcoin Will Be the Next “Swiss Bank Account”


Bitcoin’s explosive growth is dramatically disrupting the monetary and banking system to such an extent that banking and government authorities are sounding the alarm. In effect, the chief of the U.S. Treasury now fears that Bitcoin will become like a “Swiss Bank Account.”

Bitcoin lets you have your private bank in your electronic wallet. As a result, Bitcoin will eventually render the fiat monetary and banking system obsolete. Hence, U.S. Treasury Secretary Steven Mnuchin’s concerns might be justified. Now, Mnuchin is warning against Bitcoin becoming the next “Swiss bank account.”

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