Tom Lee: Bitcoin can be Banned from US if its Price Reaches $100,000

Tom Lee, a notable industry observer, has cautioned that Bitcoin could see a complete ban in the United States if its value reaches 100,000 dollars. In a twitter discussion, about Washington’s snap restriction on flavored e-cigarettes recently, the co-founder of Fundstrat Global Advisors, Tom Lee vented worries about lawmaker’s power to crash the whole market abruptly.

Moreover, Lee noted the past negative remarks on crypto by President Donald Trump and his Government. The simplicity with which e-cigarettes will vanish from the U.S., he recommended, implied different confrontational phenomena could endure a similar fate. Proceeding with the discussion about the probability of a Bitcoin ban, Lee stated the government frame of mind directly on the Price.

“This is un-related but shows White House can issue an ‘executive order’ banning anything. And could even ban bitcoin,” he wrote. “Not expecting it. But with current White House, there is nothing out of bounds nor out of reach.”

In response to another Twitter user who anticipated the 100,000 dollar ban, he said “True, agree,” While the idea of a state prohibiting the probably ‘unbannable’ decentralized Bitcoin regularly starts anger, little proof has risen of how governments would exercise such a law.

As indicated by a recent announcement, the U.S. government and the FDA (Food and Drug Administration) are resolved to destroy e-cigarettes, in any case temporarily, to assess their safeness. Presently, flavored e-cigarettes will never again be accessible for buying legally, and must be pulled back within 30 days.

Besides the abrupt limitations, which both the White House and the Food and Drug Administration confirmed recently, which means e-cigarettes will vanish from the U.S. market in a month. Further, manufacturers might have the option to bring back their items later on, subject to safety tests demonstrating they are not responsible for a lung disease which set off the Government operation.

Furthermore, Trump tweeted his aversion for cryptocurrency when BTC/USD came up to 10,500 dollars. If it becomes worth multiple times that he stated, the Trump Government would substantially be more prone to restrict the residents of the U.S. to use it.

Additionally, President Donald Trump has recently spoken adversely about cryptocurrency, his remarks which sent jitters through business sectors and in this manner saw support from senior government officials. However, no policy changes happened in light of the comment in July, but, the U.S. regulatory approach to deal with the fact makes the consumers, and the businesses are distressing.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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