The Trump administration is getting ever closer to banning bitcoin as they just prepared an executive order to ban flavoured e-cigarettes over health concerns. This comes as the community worries about the potential of Trump’s administration banning bitcoin altogether.
The long-time industry expert and Fundstrat head, Tom Lee has said that this unexpected ban on e-cigarettes is just a stepping stone for what Trump could ban next.
I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….
— Donald J. Trump (@realDonaldTrump) July 12, 2019
In a statement published last week, the US administration and the FDA (Food and Drug) administration are both planning on getting rid of flavoured e-cigarettes from the US market. Speaking in the statement, Alex Azar – the US health secretary – highlighted:
“The Trump Administration is making it clear that we intend to clear the market of flavored e-cigarettes to reverse the deeply concerning epidemic of youth e-cigarette use that is impacting children, families, schools and communities.”
Whereas the e-cigarette ban is not in any way related to cryptocurrency, lee has expressed his worries that Trump might later focus in on bitcoin and see that gone too.
“This is un-related but shows White House can issue an ‘executive order’ banning anything. And could even ban bitcoin.”
Despite the fact that it is unlikely, Lee believes that nothing is impossible.
“Not expecting it. But with the current White House, there is “nothing out of bounds nor out of reach.”
It will be interesting to see how this plays out and whether an actual ban is on the cards for Trump. For more news on this and other crypto updates, keep it with CryptoDaily!