Bitcoin Forum

The U.S. government is very aware of cryptocurrencies and the rise of bitcoin. This week American authorities from multiple agencies such as the IRS, the Federal Reserve, and President Trump’s press secretary all explained they are monitoring cryptocurrencies and bitcoin’s recent popularity.

A reporter asked Sanders whether or not the president was following cryptocurrencies “specifically the major run-up with bitcoin,” explains the journalist.

“Does he have an opinion on it, and does he feel it is now something that needs to be regulated?” asks the reporter. The press secretary Sanders explains the government is watching bitcoin stating;       

"The [Bitcoin situation] is something that is being ‘monitored’ by our team — Homeland Security is involved. I know it’s something that he’s [Trump] keeping an eye on — And we’ll keep you posted when we have anything further on it."

Read More Here >>>   https://news.bitcoin.com/trump-and-the-federal-reserve-are-keeping-an-eye-on-bitcoin/

I don't believe a word of command Trump. Maybe I don't understand something but it seems to me that Trump is stupid. Brains I understand that in order to become a millionaire you need to have your wits about you but when I listen to what he says and how he behaves I can't believe what it says is a smart man. They won't be able to do with bitcoin.

I also read that this morning that Trump administration wants to regulate Bitcoin (http://bitcoinist.com/trump-administration-considering-regulating-bitcoin/).

I think all governments will have to do that. They have no choice. The popularity and usage of Bitcoin is increasing. To ignore it even longer is negligent for governments. That's why I think that after the tax reform, other minor reforms will come, including the regulation of cryptocurrencies.

I think the reason this issue is mainly focused on Trump and his administration is because it is the US we are talking about. The US is admittedly the father of all nations because its involvement in basically everything that is going around the world greatly influences our respective governments and our future generation.

With this, all countries that have partnership with the US may adapt the same mechanism as that of the US. Of course, only if they have the capacity to adapt the same. But knowing the US, they always extend help provided you become their folly.

I think they have been watching a careful eye since Trump has taken office. Isn't it we are rejoicing because some of his advisors are bitcoin friendly? And because of that, I assumed they are really keeping tabs on the price and what is happening in the crypto world. Maybe they just went out in the open just this day because bitcoin price is skyrocketing and they can't ignore it. Bitcoin is slowly creeping in a lot of US citizens and are putting cash into the ecosystem. And again, with all his advisors around which is friendly to bitcoin, its just a matter of time before USA will go and regulate(tax) it to their advantage. Let's see how it goes, this is big for bitcoin community if everything went to our favors.

If the US does try to regulate Bitcoin in a heavy-handed way, it will just result in all the bitcoin businesses migrating elsewhere. We all saw what happened when New York came up with Bit-Licence.
Already Japan has taken the lead with crypto-friendly regulation. We don't want America to fall further behind.