Title: Can the United States (US) Ban Bitcoin? A Look at Government if Attempt to Outlaw CryptoAssets
Headings: Can the United States (US) Ban Bitcoin? A Look at Government if Attempt to Outlaw CryptoAssets
Can the United States (US) Ban Bitcoin? A Look at Government if Attempt to Outlaw CryptoAssets
“the bigger these things get… they (govt.) close it down.”
Bitcoin is Code, The US government Cannot Ban Code
Bitcoin Ban Ship has Sailed But Fiat Onramps Can be Targeted
“attempt to circumvent US sanctions.”
Can Trump Ban Bitcoin?
“is not a fan of Bitcoin.”
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Content: Per his recent tweet, he certainly
“is not a fan of Bitcoin.” The argument for Trump “not” wanting to ban crypto is it will likely lose him votes while digital assets circumvent the banking system would be the reasoning for Trump wanting to ban crypto. This, have different implications in the form that crypto represents a threat to the banking system and we are already seeing the attempt to ban Facebook’s Libra. Crypto is often perceived as a facilitator in illegal activities as said so by Trump as well. Cryptos could also reduce Washington’s ability to impose economic sanctions, a tool to gain competitive advantage. Venezuela and Iran are the prime examples of creating their own crypto to avoid sanctions. 16/ TL;DR
– 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 institutions away
– A ban would see $BTC crash rapidly pic.twitter.com/VEz5y58arL
— Alex Krüger (@krugermacro) July 15, 2019
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AnTy
AnTy has been involved in the crypto space full-time for over two years now.