Can Facebook’s Libra Be Used For Illicit Transactions? |

26m
cryptonewmedia

Fundstrat: Bakkt’s Launch Expected by Late Q3, Could Be ‘Huge Accelerator for Market Growth’

31m
cryptoglobe

Why Is A VPN Absolutely Necessary For You?

33m
bitcoinwarrior

Bitcoin’s Bull Run in 2015-2017 is Very Similar to What We’re Seeing Now, Analyst Opines

1h
zycrypto

Week of Crypto-Regulations: Governments in the US, China and India Take Heed

1h
coingape

Financial Analyst: Bitcoin Futures Are A Great Buy At $8,500

1h
bitcoinist

Despite Being “For Everyone,” Those Banned from Facebook Likely Can’t Use Libra

1h
beincrypto

Bitcoin Price (BTC) Signaling Bullish Continuation To $11K

1h
cryptonewmedia

Can Facebook’s Libra Be Used For Illicit Transactions?

2h
bitcoinwarrior

NYDAX: Seeking to Disrupt Wall Street and Pave the Way to Digitized Securities

2h
bitcoinwarrior

CGC Kyiv 2019, the largest blockchain gaming conference announced on Oct 10-11 – 1500 delegates from 50 countries, 100 speakers, VR, AR, hackathon

2h
block

Blockchain Life 2019

2h
block

The Future of Automation in UX and Design System Ecosystems with Jiří Třečák (Supernova) at TCE2019 Prague

2h
block

Bitso Get License to Operate XRP-based xRapid Transactions in Mexico

2h
thebitcoinnews

This Week in Cryptocurrency: July 19th, 2019

2h
thebitcoinnews

Zcash Forks Into New Blockchain Network Ycash

2h
thebitcoinnews

550 Bitcoins Locked in Ethereum-based Tokens Called WBTC

2h
thebitcoinnews

Libra Does Not Qualify as a Crypto, the World Doesn’t Need it: BlackRock CEO

2h
thebitcoinnews

Hayek’s 1984: Rediscovered Footage Shows Austrian Economist Predicting Bitcoin

2h
thebitcoinnews

7 Unorthodox Ways to Mine Bitcoin

2h
thebitcoinnews

Bitcoin Cash Milestones: Delivered Code, Upgrades and Platform Development

2h
thebitcoinnews

Bitcoin and Cryptocurrency Not Banned in India, Government Official Confirms

3h
coingape

Ex-Microsoft Engineer Charged with Mail Fraud After Stealing Millions in Digital Currency

4h
beincrypto

Interview: Ethereum development suite Truffle CEO on the future of dApps, regulation, and Libra

4h
cryptoslate

Sally Ho’s Technical Analysis 20 July 2019

5h
cryptonewmedia


Ban Bitcoin Before It Disempowers Our Foreign Policy – U.S. Congressman

zycrypto

2mon ago

Bitcoin is now the topic of most financial conversations (including those not in the cryptocurrency sector) and this has made the popularity increase and the price soar even higher. The coin successfully hit and crossed the $8,000 mark and even though its been fluctuating since then, the increase by $2000 within a few days is something people just can’t stop talking about. However, not everyone is excited about the wins in the crypto market and some would rather see it eliminated.

Brad Sherman, a U.S Congressman with the Democrats, has openly stated his dislike for cryptocurrency and has called on other members of Congress to outrightly ban the use of Bitcoin and all other cryptocurrencies.

According to Sherman, cryptocurrencies pose a threat to the U.S. and the financial power of the dollar in the international scene. During a recent meeting of the House Financial Services Committee, Sherman said:

“An awful lot of our international power comes from the fact that the U.S. dollar is the standard unit of international finance and transactions.”

Sherman is worried because crypto is largely decentralized and lets its holders move money around the world in a few seconds without any impediments or interferences from the world’s governments. This is a problem for not just the governments but also for quite a few potential institutional investors who are very uncomfortable with the deregulation and decentralization of the market and are unwilling to invest.

Sherman also added that

“So, whether it is to disempower our foreign policy, our tax collection enforcement or traditional law enforcement, the advantage of crypto over sovereign currency is solely to aid in the disempowerment of the United States and the rule of law.”

Reactions

Anthony Pompliano who is very popular for his optimistic views on Bitcoin as said that it would probably be impossible to ban cryptocurrency. The founder and CEO of Morgan Creek Digital Assets said that:

“…it appears that the Congressman does not understand the improbability of being able to ban ownership of these decentralized digital currencies. The laws could be created but they would be nearly impossible to enforce.”.

Pompliano has also said that any move made towards banning cryptocurrency will end up of having the opposite effect and eventually drive more adoption.

Regarding any copyrights issue, please contact us:content@hashbee.com.

0 comments