US Congressman calls for Bitcoin leadership for the US
Today at the Bitcoin Policy Summit in Washington DC, US Congressman Patrick McHenry (R-NC) called on the US to take a leadership position in Bitcoin development. In a discussion with David McIntosh, President of the Club for Growth, he emphasized the unstoppable nature of Bitcoin and pointed out that even China's attempts to shut it down have failed.
Importance of Bitcoin understanding among legislators
As a financial technology advocate, McHenry underscored the importance of lawmakers being well-versed in Bitcoin to avoid bad regulations due to misunderstandings. He criticized the lack of basic Bitcoin knowledge among his colleagues, pointed out the absurdity of their questions regarding transaction concealment on an open ledger like Bitcoin, and stressed that cash remains predominant in illicit finance.
Importance of reading the Bitcoin whitepaper
McHenry suggested that reading Satoshi Nakamoto's Bitcoin white paper could greatly improve discussions about policy and prevent the spread of misinformation. His keynote speech conveyed a sense of urgency for the U.S. to seize the opportunity to be at the forefront of the Bitcoin revolution to secure a progressive future in finance and technology.
Additional information about the Bitcoin Policy Summit
For additional details on the annual Bitcoin Policy Summit, including speakers and the full agenda, interested parties can visit BPI's website. The Summit's livestream is also available on YouTube and X (Twitter).
