Newly Hired White House Chief Of Staff Claims That ‘’Bitcoin Is Good’’

Following up on our crypto news about hiring the huge bitcoin supporter Mick Mulvaney, the new White House Chief of Staff claims that Bitcoin is good and that it is no government can manipulate with it.

The United States President Donald Trump has chosen Mick Mulvaney as the new White House Chief of Staff. Mulvaney has been supporting Bitcoin for a long time and has praised its decentralized nature as well.

Back in 2016, Mulvaney said that he believes the Federal Reserve ‘’effectively devalued the dollar’’ and made clear that this level of control is not possible with Bitcoin because it is ‘’not manipulable by any government’’.

Having a strong bitcoin supporter as a member of the Trump administration is a very positive element for the growth of the number one crypto asset. His presence in the White House can encourage other governments around the world to hire government officials that will evaluate cryptocurrencies in a neutral way to do a better analysis of the benefits of the decentralized financial system.

The SEC has already clarified that Bitcoin is not yet considered a security under the existing laws but over the past few months, the SEC and the US have been working on integrating the strict Know Your Customer policies so they can prevent money laundering.

Having a high ranking government official in the US government means that the digital currency policies can have a long-lasting effect for the entire crypto industry however, Mulvaney has once said about Trump that he is a ‘’terrible human being’’ so there is a question remaining how long will the new Chief of Staff remain in office.