Libra Testnet Surpasses 50,000 Transactions Since September Launch

1h
cryptocurrencynews

Make No Mistake, Crypto is Still Hated by Beijing Despite Bullish...

1h
newsbtc

Kanye West & Kim Kardashian Are Gunning for the White House in 2024

1h
cryptonewmedia

China’s Mobile Payments Show ‘Why Bitcoin Will Succeed’

1h
beincrypto

Crypto Markets Continue to Drop, Bitcoin Briefly Slips Below $8,200

2h
cointelegraph

The Commodity/Cryptocurrency Evolution is Upon Us

2h
bitcoinwarrior

Ethereum (ETH) Likely To Enter A New Bear Trend Against Bitcoin (BTC)

2h
cryptodaily

Spanish Financial Watchdog Warns Against Unregulated ICO Scheme

2h
cointelegraph

Biggest Bitcoin Mempool Since January 2018 Cleared in Only 2 Days

2h
bitcoinnews

Udi Wertheimer: TRON Will Soon Overpower Ethereum

2h
livebitcoinnews

Bitcoin Futures Options: Movement and market impact in 2020

2h
bitcoinwarrior

Venezuela's Petro Has Over 27,000 ‘Affiliated Businesses’, Nicolas Maduro Claims

2h
cryptoglobe

Best Bitcoin Debit Cards – Complete Guide for 2019

2h
bitcoinwarrior

Bitcoin vs Ripple: Who will stand the test of time?

3h
bitcoinwarrior

LocalEthereum Shifts Focus to Additional Currencies Under the LocalCryptos Banner

3h
nulltx

Bitcoin adoption in these industries would boost 2020

3h
bitcoinwarrior

LocalBitcoins enters Finland under FSA KYC policy

3h
bitcoinwarrior

Analysts: Bitcoin to Target Lower-$8,000 Region Before Next Rally...

3h
newsbtc

XRP Fails To Rally As Ripple Scores Another Huge Remittance Deal; What’s Next For XRP Price?

3h
zycrypto

Researcher Breaks Grin’s ‘Privacy’ Spending Just $60 Per Week

3h
cointelegraph

Bitcoin Ban via Executive Order Increasingly Unlikely

3h
beincrypto

Bitcoin Magazine: Mati Greenspan on The Motion in Bitcoin Markets

3h
letstalkbitcoin

DEX trading protocol Leverj releases major update

3h
cryptonewmedia

Bitcoin Gold Is an Example of a “Good” BTC Fork

4h
livebitcoinnews

RSK Joins Forces With Singapore’s Blockchain Accelerator

4h
cryptodaily


VanEck Director Calls on USA to Embrace Bitcoin After Backing Tether

beincrypto

1mon ago

One of the Directors of VanEck, the New York-based investment firm, has gone from defending Tether (USDT) to calling on the US to embrace Bitcoin and distributed ledger technology in the face of a burgeoning arms race.

Gabor Gurbacs is becoming quite vocal on Twitter after his defense of the controversial USDT cryptocurrency. Now, he is calling for the embracing of Bitcoin as a potentially innovative and revolutionary financial system for institutional investors.

Last week in a Tweet, just a day after Tether was hit with a $1.4 trillion class-action lawsuit, Gurbacs said that he was “tired of hoodwink academics, hype-media and uninformed lawyers discrediting the hard work and structural innovation that Tether and Bitfinex built!”

Following that controversial Tweet, Gurbacs has now called on America to embrace Bitcoin and distributed ledger technology. He states that not only is there “trillions of dollars in potential value [that] may be unlocked in capital markets and across various industries,” but there is also a full technological revolution happening through blockchain.

While this tweet from Gurbacs is far less controversial than his previous attempts to defend Tether and its role in the cryptocurrency space, his parting question is a good one. “The question is who will fully embrace it and benefit?!,” the VanEck Director asks.

The US-based VanEck firm would be rooting for the US to indeed embrace Bitcoin and unlock its potential. Unfortunately, even though the US is a major market and player in the cryptocurrency space, it is quickly losing ground to the regions in the East.

The US has long looked to be the leader in many different global innovations and advancementsm however, it appears as if a new technological arms race is developing that America is less inclined to join.

Powers such as Japan and South Korea, as well as Singapore, Hong Kong, and even China to an extent, are seemingly far ahead of the USA with regards to taking blockchain, distributed ledger, and cryptocurrency seriously.

In fact, one prominent regulator who is massively in favor of Bitcoin even spoke of how far ahead the East is compared to the US. “Governments [in Asia] are also looking at this space [blockchain and cryptocurrency] from a very pragmatic perspective. They see cryptocurrency as an opportunity, not a threat. The focus is less on regulation and more on: ‘Can we implement this?’” Commissioner at the US Securities and Exchange Commission, and ‘crypto mom,’ Hester Peirce said.

The approach from the US government and regulators towards Bitcoin and the blockchain space has been far more strained. From the president, Donald Trump, tweeting his disdain for Bitcoin, to the Senate, and Senators doing all they can to break apart Facebook’s Libra.

The US may not be entirely hostile to Bitcoin, but it is far from embracing it as Gurbacs is encouraging. If there is not a change in attitude soon, it may leave the Western superpower playing technological catch up in the next few years.

Will the US be able to keep up with the technological arms race that is building or will it lose a lot of power and position in the future global markets for its unwillingness to adapt to Bitcoin and Blockchain?

Images courtesy of Shutterstock.

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

0 comments