The Trump administration has recently mentioned that they will be watching bitcoin and seeing how it progresses due the sudden interest it has been getting from more of the population and it’s rapid increase in price. The parabolic jumps in it’s price is attracting interest from investors, finance companies, futurists, uncle sam and regulators.
Everyone’s favorite press secretary, Sarah Sanders, (who always seems to have a hint of frustration with the world when taking the stage) has mentioned during a recent 20 minute white house press conference that the cryptocurrency world is of interest to them and is “something that is being monitored by (their) team.”
As always though, one may leave these press conferences more confused than when they got there.
A journalist from Fox Business Network, Blake Burman inquired as to what the statement meant and what it would mean for cryptocurrencies in their relationship with how the federal government would treat them. He first noted how the President is always interested in throwing out high numbers and how the stock market is doing good but hasn’t said a word about this up and coming market of cryptocurrencies. Blake wanted to know if the head of the United States had any thoughts on the matter, questioning what the government’s plans were for regulations in the cryptocurrency industry.
The press secretary gave a vague and generic answer, stating the federal government of the United States of America has nothing in particular that it wants to say on this developing industry at the present moment.
She did mention somewhat ominously that one of the leaders of the Homeland Security department did bring up the matter in a meeting that they had this week.
Stating :“I know it’s something that he’s keeping an eye on. And we’ll keep you posted when we have anything further on it.”
There are a couple of things that stand out, including, why is Homeland monitoring it when it would more likely lie in the realm of the SEC, (which has had quite a few things to say on token generating events and various other aspects of the industry). Homeland Security should be involved in terms of national security threats and other regards.
It’ll be interesting to see the response from a Trump white house, as the administration has not exactly been quiet of late. Seeking to repeal laws left and right, deregulate industries like finance and other sectors and trying to repeal health care and create a better tax plan for corporations and those who own them. However, the economy does seem on the up, Stock markets are booming, with Goldman Sachs saying that they haven’t seen a market this expensive since the 90’s. If he’s looking to stimulate jobs and create a pro business environment, this up and coming sector would be something to address and embrace, right?
One will never really know what way Trump would lean but if he is continues in his pursuit against regulation, wouldn’t that mean that he would be pro cryptocurrencies as it is a free market sort of phenomenon?