How Former Treasury Secretary Mnuchin Thwarted Trump's 2020 Bitcoin Ban Attempt

In a revealing social media post on July 18, Mike Brock, CEO of TBD (a division of Jack Dorsey’s Block Inc.), unveiled a pivotal moment in Bitcoin's history. In 2020, President Trump sought to ban Bitcoin, perceiving it merely as a political tool for easy fundraising. However, his efforts were thwarted by an unexpected ally: former Treasury Secretary Steve Mnuchin.

Brock shared, “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.”

This behind-the-scenes intervention highlights the ongoing tug-of-war between regulatory intentions and the drive for innovation. Mnuchin and his team recognized the importance of Bitcoin and the broader cryptocurrency sector in maintaining the United States' edge in global technology and financial markets.

Dive into this captivating narrative and explore how the battle over Bitcoin in the corridors of power shapes our financial future.