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Why does the United States support Bitcoin (Why does the United States not suppress Bitcoin)?

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Why does the United States support Bitcoin? Bitcoin has become the third largest

Why does the United States support Bitcoin (Why does the United States not suppress Bitcoin)?

Why does the United States support Bitcoin? Bitcoin has become the third largest cryptocurrency in the global market cap, while the United States has remained in a leading position in the digital asset field. Why does the United States support Bitcoin?

Under the restrictions of the U.S. government on digital payments, many institutions have turned to Bitcoin, which goes against their own position. Moreover, due to the recognition by the U.S. Department of the Treasury and the Federal Reserve that Bitcoin is traceable and is considered a tool against inflation, the term “dollar as the world reserve currency” has become mainstream. However, as more and more central banks around the world position themselves as “super banks,” they do not want their funds to be harmed, so the United States should also continue to maintain this attitude. So how can these measures by the United States promote the adoption of Bitcoin?

1. The United States allows companies to hold Bitcoin through regulatory sandboxes.

2. According to the Securities Act, “any listed company regulated by a federal regulatory entity shall not obtain any type of investment or income in the form of investment or transactions, regardless of the scale of such investments.” If investors want to engage in such activities and cannot obtain proper services, profits, or income sources, they need to comply with new anti-money laundering (AML) standards. For some exchanges, this is an important policy requirement, but not all Americans can participate in this pilot project unless their individuals or companies have the ability to comply with certain rules. For example, the U.S. SEC is reviewing whether a new product can provide advice on Bitcoin and what other factors may promote the adoption of Bitcoin.

3. The U.S. Congress supports Bitcoin as a store of value.

4. Bitcoin has the characteristics of high liquidity and low cost and can be used as a fiat currency. Therefore, Bitcoin can also be used to purchase goods and services. For example, U.S. President Biden recently signed a framework that allows people to sell stocks and other financial derivatives, including gold, silver, etc. In addition, it can also be used to fund public services, educational work, or help citizens of developing countries. Furthermore, in order to promote the healthy development of the crypto ecosystem, the United States will also use blockchain technology to establish a decentralized data management platform, aiming to improve data transparency, reduce costs, and prevent abuse using distributed ledger technology.

Why does the United States not suppress Bitcoin?

According to bitcoinist news, the U.S. government’s regulation of digital assets seems to have started to change. However, at the same time, U.S. regulatory agencies are actively cracking down on the development of the cryptocurrency industry. So why doesn’t the United States suppress Bitcoin?

Firstly, because no entity or individual can currently control Bitcoin. And U.S. Treasury Secretary Janet Yellen has called for the establishment of a new banking system to address these issues. However, it is currently in another stage of development: when it comes to transactions related to virtual assets, they must take a more cautious approach to deal with this situation. Therefore, engaging in illegal activities in the United States may be difficult; if the same behavior were to be carried out, it could pose some legal obstacles and risks. Secondly, because Bitcoin is a new technology, many other companies also hope to obtain licenses through their products and provide services to customers who cannot be served. However, this is not a good thing for those seeking help, especially for large tech giants like Facebook, which will face significant challenges.

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