Fundstrat's Tom Lee: Trump’s Vaping Ban Reversal Eliminates Any Risk of Crypto Outlawing

    Fundstrat Co-founder Thomas Lee talks about President Donald Trump's reversal of the vaping ban and compares it to any chance that cryptocurrencies could be outlawed as a whole.

    Tom Lee, the co-founder of Fundstrat, has ruled out the possibility of a cryptocurrency ban in the U.S after President Trump backed down on the vaping ban. Earlier on, the wall street veteran had termed the ban as a precedent for similar action on crypto coins.

    In a recent tweet, the Fundstrat boss said that the move eliminated any remote chance of Bitcoin facing a similar fate to that of the Chinese ban. Lee noted that the President’s Trump decision despite a go-ahead by the authorities shows that the upcoming 2020 elections might spare any radical moves against crypto.

    Back in September, the White House had moved to impose bans on certain e-cigarettes owing to a rise in lung-related complications. At that time, Lee was convinced that cryptocurrencies were the next in line to be legislated out of existence. These sentiments, however, seem to have changed for both the Fed and Lee whose logic was based on the cap.

    Trump’s Take on Bitcoin

    President Trump has made it clear in the past that he is no fan of digital currencies. The U.S leader has stood for the dollar dominance; a position he intends to maintain through his presidency. Furthermore, financial regulators like the FED and SEC have been working to curb illegal crypto dealings and establish a standard regulatory framework for the industry.

    However, the response to cryptocurrencies in the U.S has been on an uptrend with Bitcoin dominating most of the portfolios. As it stands, the number of U.S citizens who own a portion BTC is greater than the number of Bitcoins available in supply. This begs the question of whether any move against FinTech and specifically crypto would reduce President’s Trump popularity.

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    Lujan Odera
    Lujan Odera
    Lujan is a blockchain technology and cryptocurrency author and editor. He has worked in the field of cryptocurrencies and blockchain technology since 2015 helping him gain enough experience to be the writer he is today. He is known for his simple writing style that allows novices to understand the field in the simplest way.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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