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It is difficult to ban Bitcoin, Crypto Mom claims

CryptocurrencyApr 25, 2021 05:30AM ET
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© Reuters. It is difficult to ban Bitcoin, Crypto Mom claims

Securities and Exchange Commission (SEC) commissioner Hester Peirce, known fondly in the crypto community as “crypto mom”, speaking at a talk show claims that Bitcoin cannot be banned.

Citing the difficulty in banning something as innovative and decentralized as peer-to-peer (P2P) as a reason, the commissioners who's also a crypto enthusiast says she's hopeful that the new SEC Chairman who understands cryptocurrencies and blockchain technology will make the commission take a new look at Bitcoin exchange-traded funds (ETF) and some of the reasons why it has been rejected in the past.

With the President Biden administration working on new regulatory policies for digital assets, most experts claim that there may be a ban on these digital assets in the weeks or months to come. Hester Peirce speaking with Charles Gasparino of Fox Business has debunked this claim, asserting that it is almost impossible to ban the trading of these digital assets.

A crypto enthusiast herself, Peirce for a long time has been a major advocate of Bitcoin ETFs, doing all in her power to ensure that the SEC approves it.

With the US government already imposing higher capital gains tax on Bitcoin and altcoin holders, financial analysts speculate this could be the cause of the major fall in the price of these virtual currencies.

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It is difficult to ban Bitcoin, Crypto Mom claims
 

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Comments (4)
ZS Beck
ZS Beck Apr 25, 2021 2:20PM ET
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Why is difficult? Soon the banking system starting to be threatened by another currency they will find a way to outlaw any of these coins that are out there.They label it, ***coin or crime coin whatever reason, Time will tell.
Francesco Lucchesi
Francesco Lucchesi Apr 25, 2021 7:00AM ET
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lol wait and see
Sofi qomarudin
Sofi qomarudin Apr 25, 2021 6:58AM ET
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btc
faruku raji
faruku raji Apr 25, 2021 5:49AM ET
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btc is very nice
 
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