Forbes: No Possible Ban for Bitcoin from US Lawmakers

Libra Coin News
Wed, 07/31/2019 - 12:06
Denis Sinyavskiy
The past hearings on cryptocurrencies and blockchain have shown that it will be difficult for US lawmakers to ban Bitcoin, it is better to head it
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Contents

According to Forbes,  Tuesday, July 31, the hearings on cryptocurrency and blockchain technology, held at the U.S. Senate Committee on Banking, Housing and Urban Affairs, once again proved the complexity of the Bitcoin ban.

Reversal of rhetoric

Mike Crapo, Senate Banking Committee Chairman, changed the rhetoric, compared with the official positions of the authorities in the past, and said:

If the United States were to decide — and I’m not saying that it should — if the United States were to decide we don’t want cryptocurrency to happen in the United States and tried to ban it, I’m pretty confident we couldn’t succeed in doing that because this is a global innovation.

It is worth noting that not only Crapo spoke about cryptocurrency in a completely different from the ban direction. Some members of the Committee also said that the US needs to lead the cryptocurrency industry and bring technology to legal use. Thus, Senator Cortex Masto Member of the US Democratic Party, uttered encouraging words for the entire crypto-community:

I do think that blockchain technology is the future...I think there’s potential here, and it’s not going to go away, so we need to pay attention to it.

Bright future?

Already, more and more officials are changing their attitude towards Bitcoin and cryptocurrency to positive and past hearings proofs of this. If events continue in the same vein, one can expect assistance from the US authorities to adopt cryptocurrencies.

About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.