As we speak on the Bitcoin Coverage Summit in Washington, D.C., U.S. Congressman Patrick McHenry (R-NC) highlighted the U.S. function within the Bitcoin area throughout a fireplace chat with Membership for Development President David McIntosh The significance of main moderately than lagging behind.
JUST IN: 🇺🇸 Congressman Patrick McHenry says America must be a pacesetter in #bitcoin 👏 pic.twitter.com/jC20GaurXe
— Bitcoin Journal (@BitcoinMagazine) April 9, 2024
When requested why he was talking on the Bitcoin Coverage Summit this morning, McHenry mentioned: “That is the place the motion is, that is the bastion of freedom.” “The best way I take a look at Bitcoin is — Satoshi Nakamoto for this What the world has delivered to the desk is unstoppable. Each regime that has tried to close down Bitcoin has failed, not even the Chinese language Communist Occasion that attempted to close down Bitcoin. So it’s an unstoppable know-how.”
McHenry, recognized for his advocacy of monetary innovation and know-how, emphasised the necessity for his workplace colleagues to be educated on Bitcoin and acknowledged the challenges of regulating the know-how with out knowledgeable policymakers.
“The stupidest technique to attempt to disguise a transaction is to do it publicly,” McHenry defined. “How embarrassing it’s when senators and Home members ask how these transactions are hid. When you need to clarify to them that that is an open ledger and folks can see the worth change and they do not know. I do not perceive… Money Nonetheless the king of illicit finance.”
The congressman additional emphasised that it could be “a lot simpler” to have conversations with politicians in the event that they learn Satoshi Nakamoto’s Bitcoin white paper earlier than co-legislating. McHenry mentioned policymakers’ lack of expertise of Bitcoin has led them to fall right into a entice of misinformation. This permits them to inform the reality based mostly on this data when legislating.
General, McHenry’s message on the Bitcoin Coverage Summit mirrored a way of urgency and alternative, urging the USA to understand its potential as a pacesetter within the Bitcoin revolution and chart a course for a dynamic and progressive future in finance and know-how. .
“I am working laborious to persuade policymakers on the Hill to embrace and permit America to steer, not fall behind. I wish to be sure to all hear that message loud and clear,” mentioned Congressman McHenry.
For extra details about the annual Bitcoin Coverage Summit, together with the complete agenda and speaker record, go to the BPI web site right here. The official Bitcoin Coverage Summit dwell stream might be discovered on YouTube and X (Twitter).
