On Saturday, Donald trump openly criticized Bitcoin and the cryptocurrency in its official Twitter account. The American leader has tried to devalue not only the value of a decentralized cryptocurrency like Bitcoin, but also project Libra from Facebook.
According to Donald trump, he doesn’t believe in digital assets as money, as have heard many times of their volatile nature and the fact that their price inflated out of nowhere. In addition, the cryptocurrency can now “promote illegal activities”. Trump is confident that decentralized currency used for drug trafficking and other illegal activities. By the way, the US Treasury Secretary supports it.
As for Libra, according to the President of the United States, the project must strictly comply with all banking regulations and rules and the US dollar should continue to maintain its status as the strongest currency in the world.
Is it possible to ban BTC?
Almost immediately after the Declaration of the trump there was a momentary growth of Bitcoin prices. However, many members of cryptocommunist began to wonder whether to wait for the ban on cryptocurrencies in the United States? Moreover, people wonder, does the US have in fact the possibility to bring this ban into effect.
15/ Great report on crypto money laundering, scams, rogue regimes and global regulations:
— A Bitcoin ban in the US is feasible
— Ban could come via a Trump executive order
— Ban could be over-turned
— Probability of a ban is extremely low
Probability increased last week
— Regulatory risk keeps many away institutions
— A ban would see $BTC crash rapidly
According to the famous cryptocladopelma Alex Kruger, while it is impossible to give a definite answer. The economist and well-known industry analyst, outlined his thoughts on the possibility of a ban of Bitcoin and perhaps other cryptocurrencies in the United States in one of the tweets. Its main provisions are as follows:
- cryptocurrency is a clear threat to the banking system, as evidenced by the negative stance of governments worldwide in relation to Libra;
- digital assets affects the capacity of Washington to manipulate situations in the world through economic sanctions;
- as stated by trump, Bitcoin and the like may be used to facilitate illegal activities such as the laundering of proceeds from smuggling and tax evasion.
However, despite all these factors, Krueger believes that such a ban is unlikely.
Even if it will be introduced at some time, very soon the government will be forced to cancel it.
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