Opinions: American Politicians Speaking on the Status of Cryptocurrency in the Future

Opinions: American Politicians Speaking on the Status of Cryptocurrency in the Future

With the development of blockchain technology, the question arises as to what status the cryptocurrency will take in the world financial system in the future

Will cryptocurrency be forgotten in the future? Will it become a new reserve currency? What will the authorities of countries do?

Let’s start with the USA. We can’t definitely say what US President, Donald Trump think about bitcoin and other cryptocurrencies. We remember only that the White House Press Secretary, Sarah Sanders said six months ago for the first time that the administration is 'monitoring' bitcoin.

She also added :

I know this is something that is being monitored by our team here. In terms of specific briefings and announcements on it, I don’t have anything that I can share with you right now but would be happy to follow back up with you.

Sarah Sanders, the White House Press Secretary

Stephen Bannon, the previous chief strategist to President Donald Trump, believes that the cryptocurrency industry has a potential to disrupt the banking sector.

It was pretty obvious to me that unless you got somehow control over your currency, all these political movements were going to be beholden to who controlled the currency. I don’t believe we should have a bailout. I think the bailouts in 2008 were wrong. And I think, you look in hindsight, it was a lot of misinformation that was presented about the bailouts of the banks in the West.

Stephen Bannon, the previous chief strategist to President Donald Trump

Gary Cohn, the former Goldman Sachs executive who led Donald Trump's National Economic Council until last month, weighed in on bitcoin and blockchain technology.

I'm not a big believer in bitcoin, I am a believer in blockchain technology. I do think we will have a global cryptocurrency at some point.

Gary Cohn, the former Goldman Sachs executive

In the recent news, we could see that Ron Paul who ran for the US presidency on the Libertarian party acknowledged:

It’s a fallacy to believe the US has a free market economy. The economy is run by a conglomerate of individuals and special interests, in and out of government, including the Deep State, which controls central economic planning.

Ron Paul, the former presidential candidate and US Representative

However, the moot point remains the same — the President is yet to express his views on blockchain and cryptocurrencies.

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