The US financial regulator may declare war on bitcoin in the event that it considers that cryptocurrency threatens the situation of the American dollar. About it writes Forbes.
According to the media, the struggle of the US Securities and Exchange Commission (SEC) with the Telegram crypto project, in particular, was organized to protect the situation of the national currency of America. Recall, on May 12, the head of the messenger Pavel Durov, after lengthy attempts to issue the GRAM cryptocurrency and launch the TON blockchain platform, abandoned his intentions.
The American financial regulator exerts similar pressure on the Facebook Libra crypto project. Recently, its representatives changed the whitepaper, in an attempt to interest the authorities in the initiative. The initiative was unsuccessful.
US regulators perceive Libra as a threat to the dollar. According to the chairman of the US Federal Reserve (FRS) Jerome Powell, the Facebook crypto project provokes the country to issue a national cryptocurrency.
Bitcoin may also pose a threat to the position of the American currency on the world stage. The project is completely decentralized. Despite this, Forbes writes, some governments have managed to limit its use. For this, a ban was introduced on the work of companies related to cryptocurrencies. As an example of such countries, the media, including Russia and China.
“National cryptocurrencies are a trend of the coming years. The American financial regulator does not need competitors, such as TON and Libra – projects with a wide audience, ”commented the senior financial analyst at FxPro Alex Kuptsikevich.
The specialist also drew attention to the fact that at the moment the bitcoin and cryptocurrency market as a whole is too small to pose any threat to the US financial regulator.
With the growth of the BTC market, US authorities may change their attitude towards the digital asset. A high level of decentralization will not allow regulators to close bitcoin. In this case, the authorities will be able to control the companies and services that provide services to the crypto community.
Meanwhile, another threat appeared on the path of the US dollar – the digital currency of China. According to media reports, in May, some Chinese officials began to receive payments in the national cryptocurrency. Popular trader Glen Goodman believes Chinese cryptocurrency may shift the dollar from a leading position.