Here's Everything Senator Manchin Got Wrong in His Bitcoin Ban Letter
A US Senator attempts to regulate anything on the Internet. Whether you're talking about Bitcoin or net neutrality, it's rather obvious that the people creating the laws surrounding certain technologies have no idea what they're doing. This issue is going to be extremely difficult to cope with as computers and smartphones continue to play a bigger role in our daily lives. The reality is that the people who want to regulate Bitcoin are the ones who don't understand the technology. If they understood the Bitcoin protocol as more than just a payment system or currency, they would realize that....
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A very controversial letter from West Virginia Senator Joe Manchin released on Wednesday has sparked backlash against the politician, who calls for the digital currency to be banned. Manchin addressed his letter to regulators, the United States Treasury, and the Federal Reserve, and suggested that illicit use of bitcoin combined with the possibility it could "distrupt" the U. S. economy is reason enough to outlaw it. "I urge the regulators to work together, act quickly, and prohibit this dangerous currency from harming hard-working Americans," he wrote. Today, the Bitcoin Foundation has....
Joe Manchin United States Congress. One month ago today, West Virginia Senator Joe Manchin addressed a letter to the United States Department of the Treasury and Federal Reserve calling for the ban of bitcoin. Almost immediately, the news of Manchin's views spread like wildfire, triggering responses of disagreement from not only the bitcoin community, but from the Bitcoin Foundation and even his own colleague, Representative Jared Polis of Colorado. But now that the Internal Revenue Service has issued tax guidance on the digital currency, Manchin just might be changing his tune. "Sure, it....
U. S. Senator Joe Manchin, a democrat from West Virginia, has formally sent a letter to federal regulators calling for an outright ban on bitcoin and suggesting that the failure of immediate action could negatively impact US consumers. Manchin most recently made headlines for allegedly saying that he would vote to repeal the US Patient Protection and Affordable Care Act (ACA), a hallmark law of the Obama administration aimed at expanding public and private insurance coverage, though he later backtracked on the statements. The letter, which was sent to Federal Reserve Chairwoman Janet....
Joe Manchin Source: United States Congress. West Virgina Senator Joe Manchin (D) is calling on federal regulators to ban bitcoin, according to a release pushed out today. Manchin addressed his letter to several regulatory bodies, The United States Treasury, and the Federal Reserve, going so far as to say it is "highly unstable and disruptive to our economy." Manchin points out several times connections between the digital currency and the possibility of using it for illegal purposes. The very features that make Bitcoin attractive to some also attract criminals who are able to disguise....
Those who truly comprehend Bitcoin's technology are aware of the futility in trying to "ban Bitcoin." I might be more inclined to believe the possibility of Bitcoin being banned when, if ever, I see BitTorrent banned. Earlier today, Rob Wile of BI published this article detailing Senator Joe Manchin III (D-WV) and his call for the US Treasury, and a host of other financial regulatory bodies within the United States, to ban Bitcoin. That's right, Senator Manchin sent a letter to a long list of important names in the US government asking them specifically to ban Bitcoin. The overzealous call....