0
📰 News
1779 views

Forbes: No Possible Ban for Bitcoin from US Lawmakers

  •  Denis Sinyavskiy
    📰 News

    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

Forbes: No Possible Ban for Bitcoin from US Lawmakers
Cover image via www.123rf.com
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.

In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.

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.

Recommended articles
0
📰 News
122 views

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
    📰 News

    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
Cover image via www.123rf.com

Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

Subscribe to News.U.Today on Facebook, and get involved in all top daily cryptocurrency news, stories and price predictions!

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.

Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings