RATE Group | Trump Banning Bitcoin is Feasible But Highly Unlikely, Says Economist
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Trump Banning Bitcoin is Feasible But Highly Unlikely, Says Economist

15 Jul Trump Banning Bitcoin is Feasible But Highly Unlikely, Says Economist

Posted at 08:17h in Bitcoin News by

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United States president Donald Trump would cause a Bitcoin (BTC) price crash if he banned it, but the law would likely prevent him, economist and trader Alex Krueger concluded on Twitter July 15.

Trump, who announced his distaste for cryptocurrency in general last week, initially failed to impact market sentiment. A subsequent breakdown over the weekend sent Bitcoin below $10,000.

Publishing a dedicated thread on the chances of Trump banning the cryptocurrency, Krueger argued he could theoretically have some success.

By targeting entry and exit points for retail and institutional investors, the president would turn Bitcoin into an isolated, more illiquid asset as it is used by lay consumers. 

“Trump could also go after fiat onramps, by simply forbidding banks to service crypto exchanges, or by requiring banks to not service exchanges unless conditions XYZ are fulfilled (and make that practically impossible),” Krueger summarized.

In reality, however, Trump would need to convince…

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