SEC’s Hester Peirce: The US government’s ban on Bitcoin would be “stupid”

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2021-04-13 22:46:06

Will the US government try to ban Bitcoin? That will most likely happen in the future, but acting like that would be extremely “stupid”, SEC commissioner Hester Peirce, expressed so frankly.

During a MarketWatch board discussion, on the theme of “how to invest in cryptocurrencies”, famous Bitcoin-friendly lawyer Hester Peirce, also affectionately known as the “mother of crypto,” reaffirmed her belief that the United States is still behind the rest of the world in crypto regulation.

But Peirce added that the newly appointed SEC president, Gary Gensler, who is very knowledgeable about cryptocurrencies, sees cryptocurrencies as a “catalyst” for innovation, as well as for hope. Key prospects for a Bitcoin ETF likely to be approved by the SEC in 2021, things will go in the right direction.

“I think we’ve passed the time to ban Bitcoin in the US. I don’t know how you can ban it. It will be very difficult to prevent people from trading Bitcoin. So it would be a fool if the government tried to do it. ”

However, in the past, there have been some views that banning Bitcoin in the US is not unrealistic. Billionaire investor and Bridgewater Associates’s founder, Ray Dalio, is very negative about Bitcoin and has said repeatedly that the government will likely ban cryptocurrency trading. However, at the present time, Ray Dalio completely admits to being wrong about Bitcoin and asserted that Bitcoin is an amazing invention.

In practice, Peirce said, the ban will be very difficult, the technology is likely to go far beyond the government’s efforts to restrict the use of Bitcoin, as people will always be able to download Bitcoin wallet software, run one. node and do the transaction as long as they have Internet access.

Hester Peirce, famous blockchain businessman Raj Chowdry, is in favor of Bitcoin by saying that banning Bitcoin is similar to denying the US dollar. Regarding the possibility of being banned during this period, Tyler Winklevoss, CEO of Gemini, commented that Bitcoin has overcome the risk of being banned in the US. After all, Bitcoin is still in a war with the US government to step out of the light.

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