“Go after Bitcoin’, said The United State President, Donald Trump.
According to John Bolton’s new book ‘The Room Where It Happened’, Trump was against Bitcoin long before his July 2019 Twitter tirade.
According to former national security advisor, Donald Trump wanted to take his apparent dislike of Bitcoin off Twitter and on to the regulatory level.
June 18 article in Forbes about Bolton’s new book, Thadvisore Room Where It Happened, reveals Bolton heard Trump tell Treasury Secretary Steven Mnuchin to “go after Bitcoin.” In May 2018, the conversation between Trump and Mnuchin was regarding trade sanctions and tariffs against China.
This is not the first time Trump has expressed a dislike of the cryptocurrency. In July 2019 he went on a Twitter tirade in which he called Bitcoin (BTC) “not money” and “based on thin air.” He continued by attacking Facebook’s Libra token as having “little standing or dependability.”
During July 2019 tweet, the Treasury Secretary backed Trump’s position in the media, saying the White House was “looking at all of the crypto assets” and subsequently claiming that BTC and other digitalcurrencies are used for money laundering more often than cash is.
Mnuchin said at a hearing in February this year that he would be announcing some “significant new requirements” for digitalcurrencies with the Financial Crimes Enforcement Network (FCEN), alluding to more oversight by the federal government to prevent money laundering.
To a change Trump has also taken some decisions that may have benefited cryptocurrency after the conversation alleged by Bolton took place. In October 2018 the U.S. President appointed Mick Mulvaney as the White House chief of staff. “Bitcoin (BTC) is a currency that can not be manipulated by any government”, said Mulvaney a pro-Bitcoin.