Bitcoin News

Story: Bitcoin is not regulated and cannot be regulated

By Steven Anderson

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Mick Mulvaney will be the acting White House Chief of the Staff in the year 2019.  Of note, he is Pro-Bitcoin.

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The US President Donald Trump chose Mick Mulvaney following the scheduled leave of John F. Kelly.

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Matt O’ Brien, a Washington Post columnist reports that Mulvaney has been supportive of Bitcoin (BTC).  

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Early in July, Rep Mick Mulvaney, who was then tasked with drafting the budget for Trump's budget, accepted an invitation to speak. The invitation was from the John Birch Society.

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In his speech, Mulvaney talked about the Bitcoin and stated that it is “not manipulatable by the government.

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It is a positive sign for cryptocurrency when there are official and high-profile individuals like those in the Trump administrative office to have a Pro-Bitcoin approach.

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Mulvaney has a neutral mindset concerning cryptocurrency, and this can, in turn, affect the minds of the regulators and the lawmakers in the US to a significant extent.

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When one of the officials in the US government is positive about cryptocurrencies, the attitude is likely to influence other government officials who will as well adopt the idea…

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There is another instance where the Central Bank of Finland tried to regulate the Bitcoin Protocol, and they eventually declared their inefficiency about not being able to…

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The paper ultimately declared that Bitcoin Cannot be regulated and there is no need to regulate it as the system is completely committed to a protocol.

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