President Trump is not a fan of Bitcoin or other cryptos

Sunday, 14 Jul, 2019

The market has also faced allegations of money laundering and terrorist financing.

In the United Kingdom, the Government today published the new "Economic Crime Plan" in its attempt to crack down on "dirty money", including a new. Powell's comments (which didn't even mention Bitcoin) may have caused BTC and other crypto prices to drop over 12 percent.

Similarly Bank of England governor Mark Carney recently weighed in on Facebook's Libra, claiming it must be meticulous from the very start. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC.

U.S. President Donald Trump on Thursday criticized Bitcoin, Facebook's proposed Libra digital coin and other cryptocurrencies and demanded that companies seek a banking charter and make themselves subject to U.S. and global regulations if they wanted to "become a bank".

He concluded his argument, by saying that the nation will continue to see only one fully regulated, dependable, and the most tradable currency, which is the USA dollar. This is due to the highly volatile nature of Bitcoin, meaning it can go down in value as well as go really high up. The president ended his missive saying there is only one real currency in the U.S.

The tussle between the U.S. administration and Bitcoin just intensified as the world's most powerful lawmaker, the President of the United States, Donald Trump has spoken on cryptocurrencies for the first time, and the news is not pleasant for the industry.

Tom Lee, Fundstrat's Head of Research, expressed his opinion on Bitcoin's current position in the market. Dr. Craig Wright, who many people (and especially those in BSV) recognize as Bitcoin creator Satoshi Nakamoto, has railed against cryptocurrencies' use in illegal activities and corruption. While some fear that Bitcoin and other altcoins could cause huge losses to novice investors as they did in 2018, others believe that they challenge the dominance of the Dollars.

Among investors, however, nearly all the attention was on Trump, with many in fact thanking him for drawing attention to the industry and proving it did not need his support.