on the crypto
Over the last few hours the Bitcoin has made a noticeable decline, which naturally prompted analysts to wonder what could be the events that triggered BTC's reverse (see Bitcoin quotation in real time ). Among those considered most reliable, the recent tweet from Donald Trump on Libra, in which the President of the United States states that if Facebook intends to turn itself into a real bank, relying on Libra, it must follow the rules to which companies in the sector adhere, or request a license in this regard. A position which has been commented in various ways by observers and experts.
A recognition of the importance assumed by digital assets?
The tweet of the current White House tenant was favorably commented by the supporters of virtual currencies, who preferred to focus on the classic half-full glass. In this case represented by the practical recognition of the increasingly significant role assumed by cryptocurrencies within the economic and financial world. If Trump actually seems to confirm his critical approach to cryptocurrencies, in short, on the other hand he is forced to admit that with them he is need to find a balance point such as to prevent them from subverting existing assets.
A position, that of Trump, which seems in any case in line with that assumed by the Congress, in which more than one item underlined the need to set up a regulatory framework capable of channeling digital assets and preventing them from spilling over, practically creating a real alternative to the same dollar, hypothesis that would constitute a great damage to the imperial ambitions of the United States.
An extreme hypothesis: the Bitcoin ban
The incriminating tweet, however, has also led many economists to wonder how far Trump could go in his battle with virtual currencies. In particular it was Alex Krueger to affirm to believe that a move like the possible, but at the same time unlikely ban on Bitcoin. According to him, the law would prevent him in practice from taking similar action, as he would have to convince the Congress of the need to ban Bitcoin on the basis of reasons justifying a decree or other emergency measures. While an attack carried out in the form of could prove to be much more profitable prohibiting banks from offering their services to cryptocurrency exchanges or making this relationship practically impossible to implement by imposing measures that are almost impossible to comply with.
The market reaction
Trump's moves added to the not-so-enthusiastic reaction of the Congress, just coinciding with a notable market downturn. A chain of events that has led many observers to say how precisely the attitude of political institutions is at the base of the sudden slowdown in progress.
Now all that remains is to wait for the next few days to better understand what will happen, especially the Facebook hearing scheduled for Congress, in which the top management of Menlo Park will have to try to provide adequate assurances in view of the advent of Libra. An event that could impact the entire sector with extreme force.
