August 5, 2021

Why This U.S. Congressman Compared Bitcoin Investment With Playing The Lottery

3 min read

The U.S. Congress Oversight and Investigations Subcommittee held a hybrid hearing on Bitcoin and cryptocurrencies. The institution summoned Alexis Goldstein, Director of Financial Policy for the Open Market Institute, Sarah Hammer, Managing Director at the Stevens Center for Innovation in Finance, Peter Van Valkenburgh, Director of Research at Coin Center, and others.

Adam Cochran, a partner at Cinneamhain Ventures, made an in-depth summary of the occasion. The members of the Committee made their opening statements with Congressman Tom Emmer safeguarding Bitcoin and the potential of blockchain technology to develop more trust and transparency in traditional systems.

Similarly, Emmer slammed the done not have clarity on regulation and the risk of U.S. business leaving to other territories subsequently. The agent required answers on a key topic: the category of digital assets and whether they will be dealt with as securities, products, or currencies.

Nevertheless, not every member of the Committee was an advocate of Bitcoin. Agent Brad Sherman declared that “& ldquo; he would rather people make ‘& lsquo; bets’ in equity markets or the California lottery game” & rdquo; than invest in BTC or cryptocurrencies. He included:

(& hellip;-RRB- the only advantage of crypto is preventing KYC and its supported by anarchists for tax evasion.

Representative Anthony Gonzalez appeared to support cryptocurrencies and encouraged everyone to listen to the viewpoints of all the members in the Committee and not just the hostiles ones. He classified the idea of buying the California lottery game over Bitcoin as “& ldquo; ridiculous &