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Wednesday, November 30, 2022

Trump Told Treasury Secretary to ‘Go After Bitcoin’ – Bolton

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A June 18 article in Forbes about Bolton’s new book, The Room Where It Happened, says former National Security Adviser John Bolton heard U.S President Donald Trump tell Treasury Secretary Steven Mnuchin to “go after Bitcoin.”

The conversation between Trump and Mnuchin was regarding trade sanctions and tariffs against China in May 2018.

Trump went on a Twitter tirade in July 2019 in which he called Bitcoin “not money” and “based on thin air.” He continued by attacking Facebook’s Libra token as having “little standing or dependability.”

The Treasury Secretary backed Trump’s position in the media following the July 2019 tweets, saying the White House was “looking at all of the crypto assets” and subsequently claiming that Bitcoin and other cryptocurrencies are used for money laundering more often than cash is.

In February this year, Mnuchin said at a hearing that he would be announcing some “significant new requirements” for cryptocurrencies with the Financial Crimes Enforcement Network, alluding to more oversight by the federal government to prevent money laundering.

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