Trump orders Department of Justice to shut down Indian tribe crypto-currency
President Trump ordered Attorney General Jeff Sessions to “shut down Maza Coin by any means necessary”, according to a source that witnessed the conversation. Mr. Trump went on to state that Indian Tribes were planning to use the crypto-currency to fund operations against the now completed Dakota Access Pipeline and other “Indian interests.”
Unlike fiat currencies, such as the U.S. dollar and monies of other nations, crypto currencies cannot be directly manipulated by government control over the supply of the coin or lending rates. In the United States the Federal Reserve possesses the power to issue or destroy money, raise or lower interest rates and in general use monetary policies to exert economic influence on the value of the dollar. It, along with other government agencies, has no real influence over the crypto market.
Maza Coin is a crypto-currency created by Payu Harris, a member and activist for the Lakota Nation American Indian tribe, for the purpose of alleviating the poverty of his people. Based on the same technology that created Bitcoin, Maza Coin was later dubbed a Crypto-currency Network for All Sovereign Tribes.
Late last week a classified memo from the Department of Homeland Security alerted the president that two American Indian Tribes – the Oglala Lakota Nation and the Standing Rock Sioux Tribe were working together to leverage the Maza Coin crypto-currency to fund a disruption of the Dakota Access Pipeline, which was built across what the tribes claim is Indian land. The form of the disruption was not in the memo, but damaging the pipeline via explosives or other measures would likely cause significant environmental stress, and therefore would not be in the tribes’ interests. A White House aide suggested they may seek to control and close gate valves as a prelude to more permanent oil flow blocks.
Crypto-currencies have the potential to become very big money. Bitcoin, the first of many, came into existence in a limited form in 2009 and is now worth more than $140 Billion. With that kind of potential a myriad of others have sprung into circulation. The country of Monaco created a version of Bitcoin and multiple corporations (i.e. Kodak) are getting in on the action. Hundreds of the new electronic currencies are available for trade and generally try to offer something unique, whether it be difficulties tracing purchasers and sellers (i.e. Monero), promoting a lifestyle (i.e. GanjaCoin) or backing a charitable or environmental outlook (i.e. Terracoin).
Mr. Trump was alarmed by the revelation and gathered with top aides to prevent “destructive and illegal” acts by the tribes and their allies to “American corporate infrastructure.”
Neither the White House nor the Department of Justice returned requests for comment.