President’s Staff Monitoring Cryptocurrencies

As part of the customary press briefing from the White House, the President’s Press Secretary made it clear that the White House was monitoring cryptocurrencies. Further, the Department of Homeland Security was also part of the conversation.

While the press conference ranged widely on topics, including President Trump’s Twitter posts and the Press Secretary’s strep throat, the issue of cryptocurrencies came up through reporter questions.

According to the secretary, the topic was broached this week during a conversation with Homeland Security, and, while no specific statements were made, it was clear that the President’s office was aware of and monitoring the current situation. According to the transcript:

“[Reporter]: Has the President been following this at all -- Bitcoin specifically, the major run-up in it? Does he have an opinion on it? Does he feel or does the administration feel that this is now something that needs to be regulated by the government? MS. SANDERS: I know this is something that is being monitored by our team here. In terms of specific briefings and announcements on it, I don’t have anything that I can share with you right now but would be happy to follow back up with you…Look, this is an issue, I know, that Tom Bossert, with the homeland security team, an advisor to the President, has brought this up in a meeting earlier this week. I know it’s something that he’s keeping an eye on. And we’ll keep you posted when we have anything further on it.”

The question and answer brings to light that Bitcoin has become a point of national awareness. While no specific statement has been made, growing adoption and spiking prices have clearly brought cryptocurrencies to the forefront of the American mind.