Bitcoin Forum

The importance of maintaining world technological supremacy is gaining momentum. In the United States, defenders of innovation and job creation are pushing for giving Bitcoin (BTC) and other cryptocurrencies some breathing space.

In this regard, Thomas W. Hodge, Senior Associate Attorney at Brock & Scott PLLC and founder of Crypto and Policy, argues that the US has always nurtured the growth of new technologies entering the market. “We foster its growth rather than stifle it with burdensome regulations,”

https://bitcoinist.com/us-regulators-should-give-bitcoin-some-breathing-space/

Finally there's a stand for Bitcoin and Cryptocurrency at large. US regulators should give room for natural competition and desist Bitcoin/Cryptocurrency defamation.

But the problem with US regulators is that they think the bitcoin has a bad effect specially if being used underground specially criminally. So this put US in a dilemma and I don't think that they they will give it a leeway, as compared to other countries like Japan.

It's not only about what would they think. It's also about the fact that "lobby" works pretty good in US and I expect that the anti-Bitcoin banks are still more powerful than the pro-Bitcoin startups.
But, thanks to Japan, I'm confident that in a not-so-far future US will have to make their move, because one factor of rising importance is the fear of falling behind.

Bitcoin or Fiat, which currency is mostly using by criminals worldwide? I wrote worldwide because bitcoin is a global currency now and every country has criminals I think and most of them uses fiat for their criminal activity. There was a survey regarding this a year or two ago and it was the Fiat which achieved the first place afair.

So why US regulators are not doing anything to stop Fiat uses by criminals instead of Bitcoin? It's nothing more than their old habit to take control over everything imo.

Bitcoin isn't just a new technology, I see it more of an innovated invention.

What is currently happening right now with cryptocurrency specifically with Bitcoin is just like what happened to electronic cars, the government(regulator) are already aware of the good side of it but still patronize oiled cars as a mode of transportation, for as long as there is politics involve this things will be slower or worse nothing will happen at all.

Eventually they won’t have a choice. Looking at it from a angle , it seems they are doing the right things to safeguard the citizens funds and keep scam away from crypto but also from other point of view it’s gettijg too much and having a bad effect on the market. We just need to have more patience. Bitcoin is going to win at last.

I somehow feel happy reading this, it goes to show people are sick and tired of US and their unending attack on a technology that has come to affect the world in the best positive way. A technology that has done more harm than good. They should indeed give bitcoin some breathing space and allow things move. Even with the whole attack and criticism, there are lots of U.S citizens who invest in bitcoin till date. That shows people want bitcoin to stay, people want to earn bitcoins, people want to invest in bitcoin and use it for daily use. Poeple want bitcoin to replace traditional methods of transactions so U.S should leave bitcoin alone and face other important issues.

Sometimes I analyze and think that US majorly support innovation that is from their own citizens. I think this is why there is strong barely against cryptocurrency from them. From onset they didn’t believe it and they really missed out on investing. As time went on it was becoming real and they couldn’t watch it go without them joining the train. Meanwhile there citizens are investing and making crypto project which are doing fine but yet they want to regulate things and make rules to moderate what they didn’t like. I know they will soon be done and bitcoin will be fine with or without SEC.

US government just need time to accept bitcoin in their country. I believe they will open mind not only bitcoin used for criminal, but also fiat. So no reason to ban bitcoin.
My be they are now just protect their population from scammed because its new technology.

Most people who have no idea what Bitcoin is think it's only for evil doers and unfortunately most of these people are sitting in congress. I also have no problem with paying taxes but why does the Government really need to enter the fray?

I agree that U.S. regulators should step back and assess how they might be impeding innovation. One important measure that will be needed is to allow people to use cryptocurrencies tax-free for small or microtransactions. It's just not practical to make people record each and every purchase with cryptocurrencies for taxes.