Twitter Account Trolls U.S.government for Two Contrast Opinions on Crypto

• Twitter account trolls U.S.Government for two contrast opinions on crypto
• Earlier the U.S government wasn’t a fan of crypto assets.
• Biden is looking forward to cracking down on tax evasion

Twitter account tweeted about, earlier how the U.S.Government used to see the crypto industry as a threat but now, they want to make a profit out of it now.

The former U.S. President Donald Trump is just one of the many big boys to summon crypto scams and many other names. Donald Trump said, Bitcoin, it just seems like a scam. Also, he noted, “I don’t like it because it’s another currency competing against the dollar”.

Accordingly, earlier the U.S government wasn’t a fan of crypto assets. In detail, from the Senate to U.S. policymakers, each and every individual wants to approach the issues presented by the growing use of cryptocurrency. But it looks like the crypto industry is giving the regulators a challenging period.

And then, the administration of Biden is looking forward to cracking down on tax evasion and pointing to cryptocurrency as an area of concern. Last week, the U.S. Treasury announced proposed changes to crypto reporting as part of president Joe Biden’s proposed American Families Plan.

Moreover, the aim of the plan is to bring a new rule for firms and crypto exchanges.  And it proposed to require them to report any crypto transactions with the impartial market value of $10,000 or more to the IRS.

Generally, many reacted to the tweet regarding the U.S. government’s position. Similarly, another Twitter account tweeted, The U.S. Government is not a monolith. There are so many people within it who appreciate Bitcoin and crypto’s innovations. So many decision-makers who over a decade have done the right rather than the easy thing. This kind of simplistic talk just pushes them away”.