{"id":390000,"date":"2019-07-16T13:00:53","date_gmt":"2019-07-16T13:00:53","guid":{"rendered":"https:\/\/wncen.com\/?p=390000"},"modified":"2024-06-11T13:45:30","modified_gmt":"2024-06-11T13:45:30","slug":"us-is-about-to-crackdown-on-entire-bitcoin-industry-mati-greenspan","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/us-is-about-to-crackdown-on-entire-bitcoin-industry-mati-greenspan\/","title":{"rendered":"US is About to Crackdown on Entire Bitcoin Industry: Mati Greenspan"},"content":{"rendered":"

The United States government is about to crack down on the entire bitcoin industry, according to Mati Greenspan<\/a> of eToro.<\/p>\n

The senior market analyst tweeted on Monday that Treasury Secretary Steven Mnuchin’s remarks on Facebook’s controversial payment project, Libra, is alarming for the entire cryptocurrency sector. Mnuchin in his latest briefing at the White House called cryptocurrencies like bitcoin a “national security threat,” adding that the Trump administration is not comfortable with Facebook’s foray into the digital payment sector with Libra.<\/p>\n

Greenspan interpreted Mnuchin’s statements as a signal of a broader breakdown on cryptocurrencies. The concerns about the “national security” give the US President more powers at state and federal levels. The additional privileges mean the president is not answerable to reporting or oversight from the state. That mainly creates trouble for the bitcoin industry, as it lands under the shadow of the National Security Council<\/a> itself.<\/p>\n

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Some light reading. These are the implications of declaring something a "matter of national security," as the United States just called crypto.<\/p>\n

TL;DR – The President has supreme power to act unilaterally to neutralize the threat.https:\/\/t.co\/BDgkFOs0Um<\/a><\/p>\n

— Mati (@MatiGreenspan) July 16, 2019<\/a><\/p><\/blockquote>\n