Yesterday, Forbes Crypto tweeted a question to its audience asking "Can you sum up crypto's 2020 in 3 words?" Ohio Congressman Warren Davidson's response?
For those who don't know, 'short' is a trader term meaning to bet on the value of an asset to decrease over time. Davidson has also been vocal in defense of the crypto economy, lambasting the recently proposed STABLE Act looking to tightly regulate stablecoins; and warning Treasury Secretary Steve Mnuchin against his rumored proposed regulation on self-hosted crypto wallets. Standing with him on the matter were fellow reps Scott Perry (R-Penn), Ted Budd (R-N.C.), and Ron Emmer (R-Minn.). It's good to see there are still some politicians that care about the citizens they've taken oaths to protect physically and financially.
Regulating cryptocurrency heavily is a death blow to the US as it will place them badly behind countries like China and even Nigeria who embrace Bitcoin and cryptocurrencies not just for themselves at the top, but for all people as a whole. Luckily, Congressmen like Davidson and Cynthia Lummis have The People in mind to ensure it isn't only banks that are allowed to reap the benefits of the global adoption of Bitcoin, Ethereum, and altcoins.
If you are new to crypto and don’t know where to start, I have a free crypto dictionary for you to get accustomed to the terms used in the crypto world. Click here to download.
Also, check out my guide The Bitcoin Kit. In it, you will learn how to buy, sell, trade, store, and earn Bitcoin, along with other vital education to make you a smart and capable Bitcoin owner.