news 
Former Treasury Secretary Mnuchin Says He Wouldn’t Invest in Crypto
In a surprising turn of events, former US Treasury Secretary Steven Mnuchin has expressed his lack of interest in investing in cryptocurrency. This comes as a stark contrast to the growing recognition and acceptance of cryptocurrencies by various government officials.
Mnuchin’s past views on crypto were largely skeptical, with him likening them to “wild west” assets that needed regulation to prevent illicit activities. He also emphasized the need for stricter controls over decentralized exchanges (DEXs).
In an interview, Mnuchin stated that he wouldn’t invest in cryptocurrency even if it offered a high return on investment. When asked about his stance on crypto adoption, Mnuchin expressed his concerns regarding its potential risks and lack of transparency.
“I’m not going to be the first one to jump into something that I don’t fully understand,” he said.
Mnuchin’s comments come at a time when there is increasing debate around cryptocurrencies’ role in the global economy. While some officials have praised their innovative potential, others have expressed concerns over the lack of oversight and regulation.
In related news, Binance’s CEO, CZ, has recently praised Vitalik Buterin’s contributions to crypto adoption, stating that his work on Ethereum helped pave the way for decentralized finance (DeFi) applications.
The U.S. Treasury Department has previously proposed strict regulations for self-hosted cryptocurrency wallets, which was met with significant backlash from lawmakers and industry experts.
Janet Yellen, Mnuchin’s successor, has advocated for crypto regulation aimed at reducing risks and preventing fraud. Scott Bessent, the newly confirmed US Treasury secretary, is known for his pro-crypto stance and has voiced opposition to central bank digital currencies (CBDCs).
The cryptocurrency space continues to evolve, with the debate on its adoption and regulation ongoing.
Source: https://u.today/former-treasury-secretary-mnuchin-says-he-wouldnt-invest-in-crypto
