U.S. Congressman Patrick McHenry, "The government cannot rule out Bitcoin (BTC)."

Congressman Patrick McHenry said in an interview with CNBC comparing the characteristics of Bitcoin and Libra that "the government cannot kill Bitcoin."

Comparing the structure of Bitcoin and Libra before the U.S. Congress' House Financial Services Committee hearing on Facebook's Libra on Wednesday, McHenry said, "Government regulators cannot kill the blockchain technology of the breakaway central government. Even the Chinese government could not kill Bitcoin."

McHenry also continued to make remarks on some virtual currencies, including centrally managed currencies, pointing out that some virtual currencies that may be a "copy of Bitcoin" or that yet has a fully operating technology could "shut down."
In other words, he mentioned that the government would only be able to stop operations for companies that does not fall under fully decentralized projects such as Facebook's Libra.

Meanwhile, virtual currency experts argued that the current situation in which Facebook's virtual currency "Libra" is becoming a hot issue is the process in which virtual currencies like BTC are shifting from simple concepts to practicalities in the real world.
The reason governments and central banks are sensitive to responding to bitcoin and Libra is that these new financial tools are weakening the dominance of markets, users of governments, and financial institutions.

In other words, users and the public realized that the central ruling financial system was "a blindfolded ruler."
It pointed out that virtual currencies such as BTC and Facebook-led Libra are shaking up the existing financial system and giving financial freedom to the general public

Reporter James Lee (news@dailycoinews.com)의 기사 더 보기

- Daily Coin News prioritizes the voice from the scene over others(news@dailycoinews.com) -

- 기사에 사용된 모든 자료에 대한 책임은 작성자 본인에게 있습니다 -

[copyrightⓒ 2018 All rights reserved by Daily Coin News]

Bitcoin price when registering article
BTC-USD : $ 9,824.60 USD (API by Bitfinex)

1 0 Write