President Trump going all out to boost Crypto-currency Market in USA

Bankers have warned how illegal funds are being legalised through deals

- BY T N ASHOK

Former US President Joe Biden considered regulating crypto currency just like many level headed presidents and prime ministers of other countries because US intelligence reports revealed that the crypto currency was largely used by the underworld to stash money earned by beating the law and it kept moving across the globe and had no regulatory authority to track it.

He also considered introducing Bitcoin through the Federal Reserve where there was accountability in terms of the source of income going into Bitcoin and it came under the government's regulatory measures. India too is considering introducing Bitcoin through its Federal Reserve, namely the Reserve Bank of India so that source of income is known for tax purposes, and its movement was kept a track of.

The entire idea of introducing official crypto currency was to ensure that genuine investors monies parked in the Bitcoin was diverted back to official channels and their monies were protected and it was not nixed with the monies moved by the underworlds such as drug cartels of Mexico, crime lords of New York and Chicago, and blood money from Africa.

Before Biden could move into the matter with Fed Reserve Chairman Jerome Powell, he went out of power ceding presidential powers and authority to a businessman cum politician Donald Trump, who thinks out of the box (the Wrong Way) and uses non bureaucratic methods to implement his policies.