Donald Trump calls Bitcoin a fraud and advocates dollar hegemony

Former US President Donald Trump has again brought charges against Bitcoin (BTC).

When he performed on Monday in FUCHS business, commented the former US President:

“Bitcoin just looks like a scam […] I don’t like it because it’s a different currency that competes with the dollar. In essence, it is a currency that competes with the dollar. I want the dollar to be the world currency, that’s what I always said. “

Trump’s comments are in line with his past views on Bitcoin. Indeed, In July 2019, while he was still in the Oval Office, Trump declared that he was not a fan of Bitcoin and cryptocurrencies.

Donald Trump calls Bitcoin a fraud and advocates dollar hegemony
Donald Trump calls Bitcoin a fraud and advocates dollar hegemony

On that occasion, Trump identified and reiterated price volatility as a key issue for his anti-cryptocurrency stance Cryptocurrencies are not money and their value is based on “the air”.

As Cointelegraph told you, the Trump administration has specifically tried to enact anti-crypto guidelines with Trump is said to have told former Treasury Secretary Steve Mnuchin to “hunt Bitcoin”.

In the final days of the Trump administration, the Treasury Department also shook the pot Controversial regulations on monitoring self-custody wallets. These Trump-era politics was further expanded with the administration of Joe Biden, with the Internal Revenue Service, which is also trying to close tax loopholes related to cryptocurrencies.

Crypto-oriented Congressmen like Senator Cynthia Lummis and the representative Warren Davidson, continue to defend Privacy rights of cryptocurrency wallets.

The discussion about crypto regulations on US soil seems to have shifted to ransomware as the new focus of crypto critics in Washington. A number of ransomware attacks in the US are likely to be responsible for the new narrative shift.

In May, Cointelegraph reported that The Biden government investigated loopholes in existing cryptocurrency regulations in the wake of the recent price drop in the market.

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