It Would Be Foolish For The US Government To Ban Bitcoin, SEC’s Hester Peirce Says

It Would Be Foolish For The US Government To Ban Bitcoin, SEC’s Hester Peirce Says

It Would Be Foolish For The US Government To Ban Bitcoin, SEC's Hester Peirce Says

Advertisement

&nbsp

&nbsp

“Crypto Mom” Hester Peirce has recently spoken out against the U.S government, as conversations centered around the possibility of the government implementing a ban heightens.

Speaking on the ‘MarketWatch Investing in Cryptocurrency event series‘,

“I think we were past that point very early on because you’d have to shut down the internet. I don’t see how you [the U.S government] could ban it. You could certainly make the effort and say it is not allowed here, but people would still be able to do [use] it. So I think that it would be a foolish thing for the government to try to do that.” She said.

Over the week, the debate about whether Bitcoin could be outlawed by the United States government was intensified when Billionaire Ray Dalio stressed the subject. Dalio, despite being one of the few fintech Billionaires to take a chance on Bitcoin and advertise its value against the United States dollar, noted that the United States may close its doors to Bitcoin in the future.

Of course, this wouldn’t be easy, Dalio noted, as he explains that gold, the metallic store of value that is currently loved by many, and often compared to Bitcoin also faced the same fate years ago. The bone of contention, which makes sense to a lot of other Bitcoiners is that Bitcoin could pose a threat to the USD when it begins to outperform it in the coming years. Theoretically, expecting Bitcoin to overtake the USD is a valid argument, as inflation is already forcing U.S residents to shelter their wealth elsewhere. 

Advertisement

&nbsp

&nbsp

Tyler Winklevoss, one of the Winklevoss twins who recently made it to Forbes list as one of Crypto’s top billionaires, refuses to accept that Bitcoin could be banned by the U.S government. His standpoint is pretty simple: the SEC has already crossed its T’s and dotted its I’s. As such, Bitcoin has passed the “testing and consideration stage,” and is now fit to function without any barriers in the country.

Michael Saylor, the head of MicroStrategy, who also joined the list of top 10 Forbes Crypto-billionaires, is quite convinced that Bitcoin is simply too big to get banned. This school of thought is not uncommon in the Crypto-Community. Surely with big players like Elon Musk buying a large chunk of the asset, it is not inaccurate to suggest that institutional hands have in some way created a safety net for the asset.



DISCLAIMER Read More

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Published at Fri, 09 Apr 2021 19:49:12 +0000

ALTCOIN NEWS BITCOIN NEWS BLOCKCHAIN NEWS CRYPTOCURRENCY NEWS ETHEREUM NEWS EXCHANGES NEWS LITECOIN NEWS MARKET NEWS REGULATION NEWS
Gamestop
Important Facts of Gamestop Entering into Cryptomarket
UniFarm
UniFarm Raises $2 Million After Launching Innovative Farming Pool Featuring 17 Top DeFi Projects
XRP, FTX Token, Waves Price Analysis
#HODL #SHILL YOUR SH*T COIN! #SPOTTED! #VIRALS BITCOIN SCAM WATCH FUN QUIZZES
bitcoin-scams
Top 5 Bitcoin Scams you should be aware of!
Instagram Influencer Accused of Scamming Followers Out of $2.5M In Bitcoin Scams
five assorted color cars parked inside room
WHAT WILL YOU BUY WITH YOUR BULL MARKET GAINS?
FAQ'S INTRODUCTION TO BITCOIN INTRODUCTION TO BLOCKCHAIN INTRODUCTION TO CRYPTOCURRENCY EXCHANGES
Cryptocurrency
4 Amazing Perspectives of Cryptocurrency Characteristics, Everyone Should know
How bitcoin Transactions Work
Bitcoin For Beginners: 5 Plus Important Reasons Why You Should Understand The Future Impact of Bitcoin On Society
blockchain
5 Important points about Blockchain, Cryptocurrency, and Bitcoin(Safe or Not)
EXCHANGES WALLETS
coinbase
4 Best Crypto Coins on Coinbase
flat lay gadgets beside bearded man
ULTIMATE LIST : BEST BITCOIN AND CRYPTOCURRENCY WALLETS 2021
person shopping online
2021 BEST BITCOIN AND CRYPTOCURRENCY HARDWARE WALLETS TO STORE YOUR COINS SAFE

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.