Gemini CEO and co-founder Tyler Winklevoss believes that in recent years, the US government has increasingly strengthened its supervision of cryptocurrencies, but it is now impossible to completely ban Bitcoin.
Winklevoss talked about regulation and the Bitcoin ban on Friday's "What Bitcoin Did" podcast, saying: "I think if we go back to 2013, this will be an open question."
"I think the United States will never ban Bitcoin. There are too many precedents in court. The Coinflip rule is an enforcement action by the Commodity Futures Trading Commission (CFTC), which is supported by the court. It believes that Bitcoin is a commodity like gold. ."
As early as 2015, the CFTC referred to Bitcoin as a commodity when dealing with BTC options trading platform Derivabit.
Winklevoss said, "We are a trust company in New York and regulated by the New York Department of Financial Services."
The well-known field of encryption today began with the birth of Bitcoin in 2009. Since then, the asset has nurtured the entire ecosystem, and mainstream participants have begun to participate in various activities. Regarding the provision and implementation of guidelines related to cryptocurrencies, regulatory negotiations are also continuing.
Winklevoss also mentioned that regulators are stakeholders. They think about the well-being of the company and consumers, but some people may hold Bitcoin and consider it valuable. He also pointed to the trend of crypto industry leaders entering government positions.
According to a previous report by "Beijing", the US Financial Crime Enforcement Network (FinCEN) announced today that Michael Mosier, the former chief technology officer (CFO) of Chainalysis, a blockchain tracking platform, will serve as the new acting director.
He added: "I think there are a lot of people in the United States who believe this. For whatever reason, the probability of Bitcoin being banned is almost 0%."
"I think the same is true in the UK and Europe. We are working on licensing approvals with the Monetary Authority of Singapore (MAS), which is Singapore’s highest regulatory body. They are embracing cryptocurrency. All those who believe in capitalism, believe in Bitcoin, and believe in cryptocurrency Jurisdictions are all free markets and open markets. I think it treats it more as an opportunity rather than a threat."
He also pointed out that blocking Bitcoin will essentially require significant restrictions on the entire Internet, which will affect other aspects of the economy.
Image source: pixabay
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