Is it possibleTrump Will Prohibit Bitcoin?

Dariel

New member
President Trump's attitude, which tends to be anti-Bitcoin, has raised the discourse that he could forbid the ownership of Bitcoin for citizens of the United States (US) in the future.

This discourse is based on two possibilities, namely Trump's tweet in 2019, that Trump is not a Bitcoin lover and second is a recognition of Trump's similar attitude, as stated in the book by John Bolton, a former White House security adviser.

Responding to the discourse of a possible ban on Bitcoin ownership, many people say the most likely action is an aggressive step by the government in dealing with laundering crimes related to Bitcoin and other crypto assets. Direct banning seems impossible, because Bitcoin is practically outside the structure of the country.
 

Diego

Member
Every day that more big hitter money goes into it makes it less likely. And Trump has rather bigger things on his plate than that, getting beyond November is one of them.

There's lots of things a few politicians don't like. That's a large leap to a whole administration doing anything about it.

I watched all of the congressional talk things about Facebookcoin. It was clear that many of them were aware that driving proper cryptocurrencies out of America could cost them big time in the long run
 

Cole

Member
He could prohibit, but he cant prevent people from making transactions.

Additionally, I doubt governments can win a battle against technology advances. It is better to work with new techs, which will.increase governments revenue and create new jobs.
 

Maxwell

Member
Trump already has years as president and if he really wanted to ban bitcoin he would have banned it a long time ago. Politicians (at least most) seem to ignore this issue of banning bitcoin because they don't know bitcoin very well and because there are still no cases of being very alarming when it comes to using bitcoin for money laundering, at least when compared to Fiat . With the technological revolution that exists in the world, politicians are also able to perceive things that are beneficial and instead of banning bitcoin they can simply create laws that can be more beneficial for everyone
 

Ivan

Member
Don´t listen what he says, watch what he does. He can´t prohibit Bitcoin and it would not make any sense to even try. He is saber-rattling but that´s say anything. Too many big players from the USA have already entered the market to ignore or fight it. Goldman is another case of talking this and doing that, it just seem to be common courtesy
 

Kingston

Member
President Trump's attitude, which tends to be anti-Bitcoin, has raised the discourse that he could forbid the ownership of Bitcoin for citizens of the United States (US) in the future.

This discourse is based on two possibilities, namely Trump's tweet in 2019, that Trump is not a Bitcoin lover and second is a recognition of Trump's similar attitude, as stated in the book by John Bolton, a former White House security adviser.

Responding to the discourse of a possible ban on Bitcoin ownership, many people say the most likely action is an aggressive step by the government in dealing with laundering crimes related to Bitcoin and other crypto assets. Direct banning seems impossible, because Bitcoin is practically outside the structure of the country.
If he had to ban bitcoin, he would have done it already. Now with few months left to his term, it seems highly unlikely to happen. US is a progressive country so from that perspective as well, I don't see a chance for any president to ban cryptocurrency in totality.

Yes, there may be new laws framed to curb illegal usage of cryptocurrency but blanket bank is not possible. Technically it's not possible as well as bitcoin is nowhere controlled by any single authority.
 

Juan

Member
Weren't some of his advisors Bitcoin supporters?
It's funny how people's attitude can change over the years. I remember when Trump was being elected and people were enthusiastic because "he's a businessman, he'll understand economy and be open to new technologies and he surrounds himself with investors and traders".
Imagine the headlines if he did it: "The land of the free trying to block the flow of money from physical to digital. Is Trump afraid of Bitcoin weakening the Dollar?"
 

Ashton

Member
Trump is dumb enough to do it but who cares. We, or Americans, don't need him or his approval. The time he seriously starts to think about it he won't be POTUS anymore. How many he has left? 2 years? He has more important priorities to think about for the next elections. MAGA didn't happen, Americans will say No to Trump a second time.

Even if the day happens, do you think they will monitor every US computer to check if there is a Bitcoin wallet installed in? Or come et home to see if there is a Ledger? At worst they could monitor bank transactions, watching for bank transfer coming from exchange platforms. But it won't be efficient as it's supposed to be. Americans will still so many other ways to use cryptocurrencies
 

Kaiden

Member
I honestly doubt it. If there's anything that Trump would do at this moment is to be friendly on cryptocurrencies as it might help secure him yet another term in November, though the possibility of that happening is very slim. With America getting grabbed by the puss* every day, the POTUS would need to think yet another scheme to make the Americans befall to his tactics once more, and with that I doubt that there's any room for Trump to even think about bitcoin at this point in time. It is possible but improbable at this current time.
 

Jesus

Member
These are still fresh news that might connect.
Smiley


https://fortune.com/2020/06/22/john-bolton-book-trump-bitcoin-room-where-it-happened/
https://www.forbes.com/sites/coryjohnson/2020/06/21/trump-supports-chinese-bitcoin/#16017d505fec

When talking about prohibition then its possible but the question is, would it give out big impact? yes it can but wont really
be that severe we know that each country do have its own jurisdiction and wont be completely be influenced just because of
other leaders do able to do so.
 

Calvin

Member
Looking at the latest article made by Forbes you will see that they have created an angle towards a conspiracy that China is indeed controlling Bitcoin which we all know is not true anymore ever since China didn't show any kind of support for the crypto mining industry in there country. So with this news it feels like they are just creating a reason to have a legal framework to either boost the crypto presence in the United States or outright ban it because of it's relation with China.
 

Stone

Member
Trump, it has been several times this person always says so. He is against really Bitcoin. However, his statement is only his statement. It may affect the Bitcoin price, but nowadays, many people are smart and will not be affected by only his saying. And as we know, the decision of Bitcoin prohibition is not only based on the Trump decision, right? It should be regulated in the country, shouldn't it? I think that the US will really consider and think twice about it, considering the positive and negative impacts of the prohibition. Additionally, currently, the country is facing something big about racism incident and the societies are likely not putting the truth again to the government. Will they add the problem to it right now?

For me personally, I love Bitcoin and I see more advantages of BTC than its disadvantages. But, for the people with big particular behalf, it will be a big matter that should be eliminated in order to make them always powerful and not competed.
 

Jair

Member
He can prohibit only within his jurisdiction. The universe is bigger than him. Moreso, Bitcoin is unstoppable. he can not stop anyone from making the transaction as their some tools that can be used to shield the source of transactions. The government are just trying to stop the unstoppable, the earlier they realized. the better
 
Top