U.S. Politicians Acknowledges The Power Of Bitcoin

cryptowarrior88 (59)in #cryptocurrency • 5 years ago

It a seeming admission of the power of Bitcoin and cryptocurrencies in general one U.S. Senator has acknowledge that even if the U.S. wanted to ban them it would prove to be very difficult and almost impossible to do so.

U.S. Senator Mike Crapo who is the Chairman of the Senate Banking, Housing and Urban Affairs Committee laments that even if they wanted to stop cryptocurrencies the probability it would succeed would be slim since the new asset class is a global tech and a global innovation.

This echoes the same sentiment of other legislators like Representative Patrick McHenry who said earlier this month that there is no capacity to kill bitcoin.

What has started as an inquiry to Facebook’s Libra cryptocurrency initiative seems to have been a catalyst to start meaningful talks between the cryptocurrency community and the government.

It has provided a starting point where proponents of cryptocurrency and regulators can discuss once and for all what U.S. regulators wants to do in the space.