Why the United States will not be able to ban Bitcoin

Why the United States will not be able to ban Bitcoin

Why the United States will not be able to ban Bitcoin

The head of the Abra startup Bill Bargidt said that the US constitution protects cryptocurrency, but this will not work for the Libra project from Facebook.

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.

 

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About Shawn Morrison 199 Articles
One of the founders of BitzArena. Active with crypto currency since the rise of the bitcoin. Loves the innovative character of crypto and blockchain technology, and follows developments in the market closely. Likes to connect technology with business, and likes to make difficult concepts accessible to a wide audience.

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