The US Treasury Department is deeply concerned that Facebook’s own crypto currency, the Libra, can be used to fund terrorism. That said Finance Minister Steven Mnuchin Monday.

Mnuchin said at a White House press conference that the Libra is about a matter of national security. According to Mnuchin, other risks include money laundering. He stated that the Ministry of Finance will ensure that bitcoin, libra and other digital coin traders adhere to the highest regulatory requirements. This is made very clear on Facebook, the minister said.

The most used currency to fund terrorism is US-issued dollar.

President Donald Trump has also previously criticized the Libra. According to Trump, Facebook must apply for a banking license if it wants to continue with the libra. The American dome of central banks, the Federal Reserve, is also worried. According to the Fed, the libra raises serious concerns in terms of privacy, money laundering, consumer protection and financial stability. According to the Fed, these concerns must be thoroughly addressed before proceeding. European and Chinese authorities have also expressed concerns.

This week, the top director at Facebook’s libra project, David Marcus, appears in the US Senate to explain the plans of the social media company. He has already stated that Facebook is working on national security concerns and that the libra will not be launched until the concerns have been removed from regulators.

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