President Trump Wanted to 'Go After Bitcoin' in 2018, John Bolton Reveals

Michael LaVere
  • Former national security advisor John Bolton's claims that President Donald Trump wanted to "go after bitcoin" in May 2018. 
  • Bolton's new book details a tense exchange between President Trump and Treasury Secretary Steven Mnuchin over cracking down on crypto-assets.

Former national security advisor John Bolton said that President Donald Trump wanted to “go after bitcoin” in 2018. 

According to a report by the Washington Examiner, which received an advanced copy of Bolton’s tell-all book The Room Where it Happened,  President Trump wanted to crack down on bitcoin and cryptoassets in 2018. 

The book claims that President Trump told Treasury Secretary Steven Mnuchin to put pressure on the trading and selling of bitcoin. 

The report reads, 

Don't be a trade negotiator," Trump allegedly said, as was written in The Room Where It Happened, a copy of which was provided to the Washington Examiner. "Go after Bitcoin [for fraud].

According to Bolton, the exchange took place in May 2018 amidst a tense discussion over trade sanctions and tariffs placed on China. 

The report also notes the Trump administration’s history of skepticism towards cryptocurrencies, culminating in the release of new guidelines for the trading of crypto-assets earlier this year. 

Mnuchin said in a statement made in February, 

We want to make sure that technology moves forward, but on the other hand, we want to make sure that cryptocurrencies aren't used for the equivalent of old Swiss secret number bank accounts.

Featured image by Library of Congress on Unsplash