Republicans are always looking for something new to “fear” so they can attack it. Immigrants, Muslims, privacy, you name it and they are probably afraid of it. The latest topic to join this group is cryptocurrency. The U.S. government is ready to go with all the laws possible that will limit crypto from taking over.
REPUBLICANS ADJUST RULES AFTER CRYPTOCURRENCY STARTS TO SOAR
Bitcoin had a hard crash in the 2nd month of 2018 but now it’s back with a vengeance. 7 days ago, the popular crypto was down to $8,000 but now it’s over $11,500. Litecoin is also soaring over 50% in the last week and Ethereum is right alongside with it. The “Crypto-bounceback” is in full swing and the U.S. government doesn’t like it. Republicans in the country seem particularly against it. They are now teaming up with lawmakers to put new rules into effect that will supposedly “save” the country from this dangerous threat.
REPUBLICANS ATTACK CRYPTOCURRENCY; FEAR FOR THE FUTURE
Republicans see this volatility as something dangerous. Hence, they want to protect Americans from losing their money. However, the thing is they are actually doing the opposite. Yet, Republican senator Mike Rounds says “there is no question about the fact there is a need for a regulatory framework.” Just listen to those words. It sounds exactly like the type of words cryptocurrency enthusiasts always wanted to avoid. Now, the government is just trying to make digital currency into another form of fiat money. All the rules, corruption and regulations included.
SEE HOW REPUBLICANS DEFEND THEMSELVES IN CRYPTOCURRENCY BAN
So what do the politicians themselves have to say about this whole thing? Republican Representative Dave Brat says that he is a “total free-market” and he doesn’t want to have to regulate. However, he also goes on to mention that “if it’s a currency that could destabilize the whole economy, you’re going to have that conversation.” perhaps he has a good point but does you really think cryptocurrency has the chance to destabilize the whole economy? If anything, it will improve the economy thanks to the wide range of platforms in development. For now, the discussion continues. What are your thoughts?