Former US congressman Ron Paul urges legalisation of Bitcoin

Authorities should legalise Bitcoin, but not build too many rules around it. This said by former U.S. congressman and presidential candidate Ron Paul in Stephan Livera’s podcast.

The American politician noted that he is interested in cryptocurrency, because it is \”not created by the government\”. However, he said that everything should be done to give Bitcoin legal status.

In Paul’s view, the final decision should rest with the people.

“The ideal system is freedom of choice, and then we can decide what to use as our monetary system,” said the former congressman.

Ron Paul also questioned the need to tax cryptocurrencies. The government should legalise Bitcoin and \”leave it alone,\” the politician concluded.

The former congressman has previously spoken on regulating digital currencies. In July 2019 he said that the state’s role in this matter should be to prevent fraud.

In May 2019, Paul proposed that the U.S. Securities and Exchange Commission step back from regulating cryptocurrencies and allow them to develop naturally.

Earlier, renowned macro-investor Raoul Pal said that the legal status and taxation do not deprive digital assets of value.

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