Fundstrat's Tom Lee Suggests Bitcoin Could Be Banned by US Government After E-Cigarettes

Libra Coin News
Thu, 09/12/2019 - 05:33
Alex Dovbnya
Tom Lee claims that the While House could issue an executive order to ban Bitcoin, but he’s “not expecting it” as of now
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On Sept. 11, the White House banned certain flavored e-cigarettes, thus delivering a shocking blow to the multi-billion dollar industry. Now, Fundstrat’s Tom Lee presumes that Bitcoin could be the next thing on the Trump administration’s crackdown list.

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Putting an end to vaping 

POTUS stepped up his effort to outlaw flavored vaping products that are linked to a growing number of lung illnesses. The clampdown was allegedly initiated by First Lady Melania Trump who earlier tweeted that she was “deeply concerned” about how popular vaping is with US children.

Prior to that, the Food and Drug Administration (FDA) sent a warning letter to e-cigs giant Juul Labs for mismarketing their products as “totally safe.”

This sudden ban proves that the US government can tighten the grip or completely kill emerging industries at a whim. Juul Labs alone was forecasted to rake in a staggering $3.4 bln in revenue this year.

Trump is not a fan of Bitcoin

As reported by U.Today, Trump tweeted that he was not a fan of Bitcoin and other cryptocurrencies back in July. He claimed that digital assets could facilitate unlawful behavior, such as money laundering and drug trafficking.

The President’s critique of crypto sparked many speculations about whether the US is in power to eventually ban Bitcoin.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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