1 August 2026
United State Can't Ban Crypto If They Want To
The wait is over. United State shares the final frameworks regarding regulatory on cryptocurrency on Tuesday. In the congressional hearings, Chairman of Senate Banking, Mike Crapo (R-ID) says that crypto is a global innovation. The majority believe that banning of cryptocurrency like Bitcoin is not possible even in the United States or any other country with more power. If a ban on cryptocurrency is imposed, it will be a catch-22. The uncertain rules on bitcoin and crypto regulations led Senate Banking Committee Chairman Mike Crapo (R-ID) speak up on Libra, Bitcoin, and cryptocurrency at large. The official website broadcasted the live session and it was held by the U.S Senate Committee on Banking, Housing, and Urban Affairs. In the congressional hearing, Mr. Crapo clearly states, even if the US wants to ban bitcoin, it will not be able to succeed. He further explains that; “If the United States were to decide — and I’m not saying that it should — if the United States were to decide we don’t want cryptocurrency to happen in the United States and tried to ban it, I’m pretty confident we couldn’t succeed in doing that because this is a global innovation.” Mr. Crapo shared his views on David Marcus’s hearing, who is the CEO of Calibra wallet, where he presented Testimony of Facebook’s Libra working at a global level. In the opening letter of Mr. Crapo, points out that they are looking forward to hearing how the ecosystem has grown, asking for the gaps in existing regulatory structure and how other countries are accepting it and how individuals have real control over their data. Mr. Crapo says, U.S. Should Lead in Developing these Innovations this was the quick answer for Jeremy Allaire’s statement during the hearing. The CEO of Circle Global Financial Service company, Jeremy Allaire presented the testimony as a representative of the Blockchain Association trade group. He was accompanied by Law professor Mehrsa Baradaran from the University of California at Irvine and Rebecca Nelson Congressional Research Service specialist. Mr. Allaire explains how digital money can lead countries if they adopt it sooner. He said; “I think the challenge that we all face with this is some of these cryptocurrencies — they’re just a piece of open-source software.”Explore related on CoinsCapture
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