Transparent Exchanges are the Future of Bitcoin
Tax evasion and money laundering are not going to be accepted by Governments around the world and the true future of Cryptocurrency is not dependent on criminals and money launderers, some crypto houses like G-BiT have seen the writing on the wall and build a system that is compliant with international Anti Money Laundering and Tax Laws.
There is no doubt some CryptoCurrencies with fail, some will be scams, and some will live on to change the very nature of money and wealth, no wonder the old dudes are scared.
CryptoCurrencies is not about Tax Evasion or Money Laundering, real hardcore fundamental CryptoCurrency Exchanges like G-BiT have seriously tackled the Money Laundering and Tax issues, that’s why they have such a bright future. While the Establishment still wants you to be hit with heavy fees and delays sending money around the world the reality is that is legalized theft built in to the Banking Sector and is not a product of cost or reality, CryptoCurrencies have proven that!
Dominant digital currency bitcoin should not be allowed to become the Swiss bank account of the modern era used to hide illicit activity, Treasury Secretary Steven Mnuchin said Friday.
Mnuchin pledged to work with other governments, including within the Group of 20, which includes the world’s major economies, to monitor the activity of those who invest heavily in the cryptocurrency.
“One of the things we will be working with the G20 on is making sure that this doesn’t become the Swiss numbered bank account,” he said at a conference, referring to the famously secretive accounts used by some to hide ill-gotten gains.
“We want make sure that bad people can’t use this currency to do bad things.”
US rule require banks to have information on customers with bitcoin accounts to try to prevent money laundering and other illicit activity.
Mnuchin acknowledged that some central banks were looking into the possibility of creating digital currencies instead of issuing cash, but said the US Federal Reserve was not yet considering such a move.
Asked about the possibility that Russia would create its own virtual currency to escape financial sanctions, Mnuchin said “I don’t think that’s a concern.”
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