Former Treasury Secretary Mnuchin blocked Trump’s attempt to ban Bitcoin in 2020

Former US President Donald Trump almost banned Bitcoin in 2020, according to Mike Brock, the CEO of TBD, a division of Jack Dorsey‘s fintech firm Block Inc.

In a July 18 post on social media platform X (formerly Twitter), Brock stated:

“Trump tried to ban Bitcoin in 2020, until Steve Mnuchin and a group of people in the administration slow-walked his wishes, to preserve American competitiveness and innovation.”

Mnuchin served as the 77th United States Treasury Secretary during Trump’s presidency. At the time, Trump was a major critic of digital assets and had publicly stated that he was not a “fan of Bitcoin and other cryptocurrencies, which are not money and whose value is highly volatile and based on thin air.”

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