On the Bitcoin Coverage Summit in Washington DC right now, U.S. Congressman Patrick McHenry (R-NC) emphasised the significance of the US taking a management function in Bitcoin and never lagging behind in throughout a hearth chat with Membership for Development President David McIntosh.
JUST IN: 🇺🇸 Congressman Patrick McHenry says the US must be a pacesetter in #Bitcoin 👏 pic.twitter.com/jC20GaurXe
— Bitcoin Journal (@BitcoinMagazine) April 9, 2024
“That is the place the motion is, it is a bastion of freedom,” McHenry acknowledged when requested why he was talking on the Bitcoin Coverage Summit this morning. “The way in which I view Bitcoin is — what Satoshi introduced into this world has been unstoppable. Each regime that has tried to close it down as failed, even the Chinese language communist occasion that attempted to close down Bitcoin could not. And so it’s an unstoppable piece of expertise.”
McHenry, recognized for his advocacy of monetary innovation and expertise, emphasised the necessity for his collogues in workplace to grow to be educated on Bitcoin, acknowledging the challenges of regulating this expertise with uninformed coverage makers.
“The dumbest strategy to attempt to obscure your transactions are to do them in public,” McHenry defined. “And the extent of embarrassment when senators and members of the home ask questions on this on the way to obscure these transactions. And when it’s important to clarify to them that that is an open ledger that folks can see the motion of worth, and so they do not perceive that…Money continues to be king in illicit finance.”
The congressman additional highlighted how “it’s a a lot simpler dialog” to have with fellow politicians in the event that they have been to learn the Bitcoin white paper by Satoshi Nakamoto earlier than coming collectively to legislate. McHenry mentioned that the lack of expertise of Bitcoin amongst coverage makers has resulted in them happening rabbit holes of misinformation. And that causes them to talk in truths whereas legislating, primarily based off of that info.
Total, McHenry’s message on the Bitcoin Coverage Summit mirrored a way of urgency and alternative, urging the US to embrace its potential as a pacesetter within the Bitcoin revolution and chart a course for a dynamic and modern future in finance and expertise.
“I am attempting to persuade coverage makers on the hill to embrace and for the US to be leaders in, slightly than fall behind. And I wish to be sure you all hear that message clearly,” Congressman McHenry mentioned.
For extra details about the annual Bitcoin Coverage Summit, together with the total agenda and record of audio system, go to BPI’s web site right here. The official Bitcoin Coverage Summit dwell stream will be discovered on YouTube and X (Twitter).
