Trump calls Bitcoin a scam and advocates dollar hegemony

Former U.S. President Donald Trump once again criticized Bitcoin (Bitcoin).

Appeared on FOX Business on Monday, the former president comment:

“Bitcoin, it looks like a scam […] I don’t like it because it is another currency that competes with the U.S. dollar. In essence, it is a currency that competes with the U.S. dollar. I want the U.S. dollar to become the world’s currency. This is what I have always said. “

Trump’s comments are consistent with his previous views on Bitcoin.In fact, as early as July 2019, Trump stated during his tenure that he was Dislike Bitcoin and cryptocurrencies.

At the time, Trump identified price fluctuations as a main point of his anti-crypto stance, and pointed out that cryptocurrencies are not currencies, and their value is based on “coming out of thin air.”

As previously reported by Cointelegraph, the Trump administration specifically sought to formulate anti-cryptographic policies, and Trump allegedly told former Treasury Secretary Steve Mnuchin (Steve Mnuchin) “Pursue Bitcoin.”

The last few days of the Trump administration also saw the Treasury use Controversial regulations designed to monitor self-custodial wallets. This Trump-era policy becomes deeper Expanded by Joe Biden’s administration, The US Internal Revenue Service is also seeking to close tax loopholes related to encryption.

However, pro-crypto-currency congressmen like Senator Cynthia Lummis and Rep. Warren Davidson continue to advocate Encrypted wallet privacy.

The discussion around US cryptocurrency regulations seems to have turned to ransomware as the new focus of the anti-cryptocurrency crowd in Washington.A series of ransomware attacks in the United States May be the reason for the new narrative change.

As early as May, Cointelegraph reported that the Biden administration Check for gaps in existing encryption rules After the recent market price downturn.