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September 19, 2020
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Bitcoin is no longer under the threat of being banned in the U.S.

Bitcoin banned in the USA? According to Berry Silbert this does not seem likely

Bitcoin (BTC) has been growing rapidly in recent years, and while its price is still lower than what most investors would like, there is no denying that adoption is increasing faster than ever. In fact, this was also noticed by the CEO of a cryptocurrency investment company, the Grayscale. The company’s CEO, Barry Silbert, recently commented on Bitcoin’s growth, stating that the U.S. has passed the point of no return when it comes to BTC being banned in the country.

Cryptocurrency may finally be in the safe zone in the U.S.

For a long time, cryptocurrency status was unclear in the U.S. Cryptocurrencies could be banned or supported by regulators at any time, which has prevented large investors and companies from dealing with them in the past.

However, according to Silbert, he is “cautiously optimistic”, as he said in a recent “investor call“, Where he explains that the situation is changing. He now believes that there is a good chance that cryptocurrency regulations in the U.S. could improve. At worst, they will not become worse than they already are.

“For the first time, we went through the perceived risk of ‘banning Bitcoin’. There is sufficient support from lawmakers and regulators in Washington for Bitcoin to have the right to exist and, ultimately, you will not be able to turn it off, ”he noted.

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Educating regulators about cryptocurrency bears fruit

One of the biggest problems with cryptocurrencies in the USA is the lack of understanding of the sector. The country’s regulators were intimidated because they did not understand its possibilities and benefits, only seeing risks and threats.

However, cryptocurrency advocacy groups like the Blockchain Association and Coin Center have worked on educating policymakers. Now, Silbert believes that his efforts have been successful. This could result in a new wave of support given to cryptocurrencies or, as mentioned at least, the possibility of a total ban is no longer a real threat.

Source: Invezz

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