U.S. Congress has shown that it is starting to care about cryptocurrency as a number of lawmakers spoke up in favor of it this week. “The world Satoshi Nakamoto had envisioned is an unstoppable force” and “there’s no capacity to kill bitcoin” are some of the comments made by lawmakers. Meanwhile, the Fed chair said bitcoin is a store of value like gold and admitted that an era of many different currencies could return with the wider adoption of cryptocurrency.
Unstoppable Force, No Capacity to Kill Bitcoin
During congressional hearings on Facebook’s Libra this week, a number of U.S. lawmakers spoke in favor of cryptocurrency. Among them was Rep. Patrick McHenry, the Republican Leader of the House Financial Services Committee.
At the Committee on Financial Services hearing on July 17, McHenry said: “The reality is, whether Facebook is involved or not, change is here … Digital currencies exist, blockchain technology is real, and Facebook’s entry in this new world is just confirmation albeit its scale.” He elaborated:
The world that Satoshi Nakamoto, author of the Bitcoin whitepaper, envisioned and others are building is an
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