Bitcoin has had a strained relationship with governments around the world since its inception more than a decade ago.
The United States discussed the option to “close” bitcoin in 2012 and last month reported that President Donald Trump had told Treasury Secretary Steve Mnuchin to focus on an offensive against bitcoin by negotiating an industry deal with China last year.
Now, as Bitcoin expands to Wall Street and Washington, bitcoin and cryptocurrency investor Executive Leader Digital Currency Group Barry Silbert has said he believes the threat of a “catastrophic” ban on bitcoin in the United States is a thing of the past.
“For the first time, we overstepped the perceived threat of ‘banning bitcoin,'” Silbert said, referring to the second quarter investor call from Grayscale, the bitcoin and crypto manager earlier this week, adding that he was “cautiously optimistic ” about the regulatory landscape of cryptography in the United States to remain the same.
“There is enough among policymakers and regulators to say that Bitcoin has the right to exist and cannot be closed,” Silbert said, pointing to paintings made through Coin Center, a Washington-based nonprofit bitcoin. and a cryptography and defense study group.
“The industry is doing much better than we have been in terms of relationships because of the paintings we have made to inform those responsible for resolving the benefits of this asset class. The catastrophic political threat is us.”
Silbert’s comments stick to reports that last month, Donald Trump told Steve Mnuchin to “attack Bitcoin” following Bitcoin’s big uptrend in 2017 that saw the value jump from less than $1,000 consistent with Bitcoin at the start of the year to about $20,000 among under-12s. Month.
“Don’t be an industry negotiator,” Trump reportedly told Mnuchin in May 2018, ordering him, “Hunting bitcoin [for fraud].”
The order announced through Trump came here as Facebook was preparing to reveal its bitcoin-inspired cryptocurrency, Libra, anything that led Trump to tweet his opposition to bitcoin and cryptocurrencies last year, calling them “unregulated crypto-assets” based on “the air.” “
Since then, bitcoin and cryptocurrencies in Washington has been driven in some way through the expansion of calls in the United States to expand a virtual edition of the dollar.
Former Chairman of the Commodity Futures Trading Commission, Chris Giancarlo, organized the Digital Dollar Project with multinational consulting firm Accenture this year to drive the creation of a U.S. central bank virtual currency.
Meanwhile, Bitcoin has become the global highlight this week after the hacking of social media Twitter and the use of several high-level user accounts to post a bitcoin donation scam.
“There is such a threat related to centralized databases,” Silbert said, arguing that Twitter hacking highlights the security threats that Bitcoin and its underlying decentralized blockchain generation can improve.
“I believe that confidentiality will be a central investment issue for investors who need to take credit for expansion and awareness of decentralization.”
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