Trump is calling Bitcoin a scam, that is the way of currency of the world, Dollar! Still, he is telling us that he is not a big fan of Bitcoin. Or even other cryptocurrencies for that matter. As if Bitcoin needed another hit these days! Former United States President Donald Trump once more stood in front of Bitcoin. And also made the situation harder. So, in the last days of hsi work, he made cryptocurrency regulations so tight by anti-crypto policies.
“Bitcoin, it just seems like a scam. I don’t like it because it is another currency competing against the dollar. Essentially, it is a currency competing against the dollar. I want the dollar to be the currency of the world. That’s what I’ve always said.”
Trump’s comments are not changed about Bitcoin and its position. Back in July 2019 while in office, Trump cleared that he was not a fan of Bitcoin and crypto at all.
In that time, Trump recognized price volatility. that was as a significant point for his anti-crypto mood. While he said that cryptocurrencies are not money and that their value is based on “thin air.”
law of anti-crypto policies
As formerly reported by reviewscenter.net. Trump government precisely tried to make the law of anti-crypto policies. With Trump supposedly telling former Treasury Secretary Steve Mnuchin. He said to “go after Bitcoin.” Bitcoin is a scam!
In the last days of the Trump government, we saw the Treasury made some rule changes. Those were with controversial regulations. That had amid at monitoring self-hosted wallets.
This Trump-era policy went further. It enlarged by the administration of Joe Biden. By the Internal Revenue Service also want to close crypto-related tax loopholes.
But, pro-crypto congressmen like Sen. Cynthia Lummis and Rep. Warren Davidson continue to defend the crypto wallet privacy rights.
The opinions with cryptocurrency regulations in the United States. It looks like they changed. As regards ransomware as the new focus for the anti-crypto crowd in Washington.
A flood of ransomware attacks in the U.S. is probably responsible for the new changes in the story.
In conclusion, it seems that US government, Both new and old, don’t like cryptocurrencies at all. Dollar is always better than Bitcoin for them. And they are trying to make the situation harder. That is another hit to the market.