Donald Trump, the current president of the United States of America, intended to ban Bitcoin (BTC): revealed John Bolton, a former National Security Advisor.
According to a recent Forbes article regarding Bolton’s new book, “The Room Where It Happened”, Trump ordered Steven Mnuchin, US Treasury Secretary, to “hunt down Bitcoin”. This conversation took place in May 2018, during a discussion on the sanctions and tariffs to be imposed on China.
Trump has already publicly expressed his antipathy for cryptocurrency. In July last year, he commented on Twitter:
“I am not crazy about Bitcoin and other cryptocurrencies, which cannot be considered money and whose value is highly volatile, based on nothing. Cryptographic assets can facilitate illicit behavior, such as drug trafficking and other illegal activities.”
Steven Mnuchin doesn’t like Bitcoin either
The Treasury Secretary later supported Trump’s position, arguing that the government would carefully examine BTC and other cryptocurrencies as these tools are often used for money laundering.
He also predicted that in a few years the value of Bitcoin will reach zero, and nobody will talk about digital currency anymore:
“I won’t talk about Bitcoin in 10 years, I can assure you. […] I am willing to bet that even in 5 or 6 years I will not speak of Bitcoin as Secretary of the Treasury, I will have other priorities. […] I can guarantee you, personally it will have nothing to do with Bitcoin. “
In February, Mnuchin revealed that the U.S. Treasury plans to introduce new regulations for the cryptocurrency sector. These new measures aim to “ensure that cryptocurrencies are not used as a sort of secret account in a Swiss bank. […] We are about to introduce new, more stringent requirements.”