The Treasury Secretary said US authorities, including the Federal Reserve, is working closely with the G-20 to make sure robust KYC are in place in all respective countries. It is also exploring issuing its own digital dollars but believes it doesn't need to at this point.
Speaking to the Economic Club of Washington on Friday, he said wants to ensure “bad people cannot use these currencies to do bad things.” Under U.S. law, “if you have a wallet to own bitcoins, that company has the same obligation as a bank to know” you as a customer, Mnuchin said. “We can track those activities. The rest of the world doesn’t have that, so one of the things we will be working very closely with the G-20 is making sure that this doesn’t become the Swiss bank account.”