The US government will not be able to ban Bitcoin, as it is under the protection of the constitution, says the head of Abra, Bill Bargidt. According to him, the cryptocurrency consists of a code that is essentially a part of the word, which means its restriction will be a violation of the freedom of speech, writes Forbes.
Banning Bitcoin is possible in countries with an authoritarian government, such as India or China, Bargidt said. He proposed to hold a hearing in the US Congress to discuss the protection of human rights when working with blockchain technology.
“Bitcoin is rarely spoken of in the context of free speech. But freedom of speech must remain a protected human right,” said Bargidt.
The expert added that this does not apply to all blockchain projects, as the authorities may find leverage on the developers of Libra because of its high centralization. Regarding cryptocurrency, the government can establish control only on the “edges of the system” – the places of entry and exit from it, as it happens with banks, stock exchanges and stablecocks, the head of Abra concluded.