Recently the US authorities started keeping an eye on bitcoin and even extended their wishes to become cryptocurrency watchdogs, as the country’s Commodity Futures Trading Commission did. Last week the agency’s leader J. Christopher Giancarlo The Financial Times, citing Moscow officials, informed that the Russian President Vladimir Putin allegedly authorized the country’s state agencies to work on the national cyber currency ‘cryptoruble’. The aim of this could be Putin's plans to skew the US economic sanctions, imposed on Russia for intervention in Ukraine and US elections 2016 interference.
When asked the question, whether it would be possible for Russia or any other country to dodge the US economic sanctions by creating own digital currency, Mnuchin responded that this issue is not a concern at all.
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As US Treasury Secretary said, there are only two ways of running cryptocurrency:
- There are bitcoin and its brethren, used by ordinary people who aspire diversity in payment means and so on
- There could be issued cyber coins by central banks of the countries in case they want to shorten the use of cash and turn to digital assets
Therefore, Mnuchin stated, that’s not what bothers his department at the moment.
