Why Regulators Cannot Ban Bitcoin

You’d have to shut down the world wide web.” Hester Peirce, Commissioner to the U.S. Securities and Exchange Fee (SEC) on applying a Bitcoin ban.

Though Bitcoin’s market capitalization has surpassed $1 trillion, statements from governmental authorities and organization leaders continue on to fuel speculation about a U.S. ban on bitcoin. U.S. Treasury Secretary, Janet Yellen, has publicly criticized Bitcoin and other cryptocurrencies for their role in “illicit finance.” In the private sector, Ray Dalio, founder of the world’s greatest hedge fund, has commented that Bitcoin may perhaps be outlawed just as gold was in the 1930s. Jesse Powell, the CEO of Kraken, a U.S.-dependent cryptocurrency exchange, has also warned that “there could be some crackdown” on the digital belongings.

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