Any of the federal government’s efforts to ban Bitcoin could be “silly,” stated Hester Peirce (aka “Crypto Mother”), a really Bitcoin-friendly commissioner on the U.S. Securities and Trade Fee (SEC), throughout a MarketWatch digital convention earlier this week.
“I believe we had been previous that time very early on since you’d must shut down the Web,” Peirce stated, including, “I don’t see how you might ban it. You may actually take some time. It could be very exhausting to cease individuals from [trading Bitcoin]. So I believe it will be a silly factor for the federal government to attempt to try this.”
The assertion got here on the heels of Ray Dalio, a billionaire investor and founding father of Bridgewater Associates, arguing that there’s “a great chance” that governments around the globe would ban Bitcoin and different cryptocurrencies.
Dalio advised Yahoo Finance:
“Each nation treasures its monopoly on controlling the availability and demand. They don’t need different monies to be working or competing, as a result of issues can get uncontrolled. They outlawed gold, that’s why additionally outlawing Bitcoin is an effective chance.”
Nonetheless, in accordance with Peirce, the principle subject for authorities—at the very least in relation to cryptocurrencies—is to search out an strategy to regulation that may be productive and non-restrictive on the similar time. She famous:
“We’ve seen different international locations take, I might say, a extra productive strategy. We actually want to show that round. And I’m optimistic, with a brand new chairman coming in with a deep information of those markets, that’s one thing we might do collectively—construct a great regulatory framework.”
On the similar time, Peirce additionally identified that she doesn’t know when—or if—a Bitcoin exchange-traded fund (ETF) will lastly be authorised within the U.S. Not too long ago, we’ve seen a brand new wave of main funding firms, corresponding to Constancy Investments, SkyBridge Capital, and VanEck, submitting their functions for Bitcoin ETFs with the SEC.
The regulator, nevertheless, by no means authorised a single submitting of this sort up to now.
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