Congressman advocates for US leadership in Bitcoin innovation

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Congressman Patrick McHenry from the United States advocates for America taking the front seat in advancing Bitcoin technology.

During the Bitcoin Policy Summit in Washington D.C., McHenry (R-NC) characterized Bitcoin as a fortress of freedom and an unyielding technological innovation. He underlined how even strict regulatory bodies, like the Chinese Communist Party, have been unable to curb its advancement.

“This place is where all the excitement happens, it’s a stronghold of liberty… Every attempt by a regime to suppress it has ended in failure,” he expressed.

McHenry, a proponent for financial advancement, urged his Congress colleagues to educate themselves about Bitcoin (BTC) to prevent misinformed policymaking during their chat near the fireplace. The Republican pointed out the embarrassing instances when legislators question the concealed transactions in Bitcoin, unaware that it runs on an open and transparent record.

“It’s not clever to hide questionable transactions in open places,” he pointed out, further explaining that cash is still commonly used for shady deals because of false beliefs about Bitcoin’s ability to trace transactions.

JUST IN: 🇺🇸 Congressman Patrick McHenry says the US needs to be a leader in #Bitcoin 👏

— Bitcoin Magazine (@BitcoinMagazine) April 9, 2024

McHenry underlined the significance of enlightening lawmakers about Bitcoin. He recommended that they should read Satoshi Nakamoto’s Bitcoin white paper to foster more knowledgeable debates in Congress. The Congressman voiced his worries over uninformed policymakers being led astray into erroneous legislative decisions due to misconceptions.

McHenry encouraged the US to take advantage of the Bitcoin movement and assume a pivotal role in shaping the future of finance and technology on a global scale in his rallying cry.

He urged policymakers on Capitol Hill to adopt a leading role for the US in this issue, instead of lagging behind.

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2024-04-09 20:16