NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: WLFI Price Dips 7% As Eric Trump Leaves World Liberty Treasury Company ALT5 Sigma
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: WLFI Price Dips 7% As Eric Trump Leaves World Liberty Treasury Company ALT5 Sigma

Here’s Why a Politician Says U.S. Must Smarten Up on Crypto Regulation

Nick Chong
Nick Chong
5 years ago
2 mins read
bitcoin cup and handle $12000

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Despite the large number of crypto-centric companies founded and based in the U.S. — like Coinbase, Kraken, and so on and so forth — American regulation hasn’t been all too kind to the budding industry around Bitcoin over the past few years.

Blockchain firms are fined millions by the Securities and Exchange Commission (SEC) and digital asset service providers are heavily regulated due to fears of money laundering and other illicit acts.

While many of these moves are often made to reduce crime and protect investors, there’s been a trend of crypto companies shifting their strategy around the U.S. to attempt to fit in: the Goldman Sachs-backed crypto upstart Circle set up shop in Bermuda due to regulation, and prominent exchanges like Binance and Huobi have been forced to dramatically reshift their rules for American investors, cutting volumes dramatically.

According to Congressman Warren Davidson, one of the most crypto-active U.S. politicians, the legislature around cryptocurrencies should change, or else the U.S. could begin to give “crypto dominance” to China and Russia. 

Congress Needs to Step Up Crypto Game

In a recent tweet, the Congressman of Ohio said that “by dragging its feet, Congress is giving China and Russia a head start in their quest for crypto dominance.”

Davidson made this strong assertion in reference to an article from the National Review, in which the author stated that the American blockchain industry is suffering due to “anchors on the industry’s feet” placed there by regulators. The author added.

“As with other technologies, American innovators should be focused on bringing the very best products and services to market, not worrying about getting entangled in red tape.”

"If the U.S. #blockchain industry ever is to have a fighting chance in the global market, #Congress must remove the anchors from the industry's feet."

This is correct. By dragging its feet, Congress is giving China & Russia a head start in their quest for #crypto dominance. https://t.co/XTXRo9NmIq

— Warren Davidson 🇺🇸 (@WarrenDavidson) February 7, 2020

Davidson isn’t the only one thinking that his fellow American politicians should be more friendly towards crypto and blockchain.

Republican Representative of North Carolina, Patrick McHenry, told CNBC that his “fear” is that the recent regulatory crusade against Libra is a de-facto “trial” for ”American innovation by policymakers here in Washington because they don’t understand it.”

He added that because Facebook has clout has a large company, U.S. regulators are “pouncing on them,” thus sending a “chilling signal to innovation in the United States.”

Also, POTUS candidate Andrew Yang was at the end of January quoted as saying that America needs to have better rules for crypto– and blockchain-related ventures:

That would be my priority: clear and transparent rules so everyone knows where they can head in the future and so we can maintain competitiveness [in crypto].”

Unfortunately, with President Donald Trump saying that cryptocurrencies like Bitcoin can be a mechanism for crime and that they have no inherent value, a move to make America the leading crypto capital may be a while away.

Featured Image from Shutterstock
Tweet123Share196ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Crypto

SEC Chair Declares ‘Crypto’s Time Has Come’ In Latest Statement – Get The Full Scoop

Paul Atkins, the newly appointed chair of the US Securities and Exchange Commission (SEC), has boldly declared that “crypto’s time...

Ronaldo Marquez 3 hours ago
Cardano news Charles Hoskinson

Cardano Founder Hoskinson Says Ethereum Is Doomed To Fail: Here’s How

In a wide-ranging CoinDesk interview released yesterday, Cardano founder Charles Hoskinson sharpened a years-long critique of Ethereum’s long-term viability, arguing...

Jake Simmons 4 hours ago
Ethereum

Ethereum Supply Shock? BitMine Absorbs 319,000 ETH In A Week

BitMine Immersion has reportedly accumulated a staggering 319,000 ETH in just a single week. The massive purchase, worth over a...

Godspower Owie 5 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

solana

Solana Season Next? Bitwise CIO Eyes ‘Epic’ Q4 Run Fueled By Corporate Demand

Rubmar Garcia 1 hour ago
wld-price-surges-70-bitcoin-hyper-fuels-new-defi-100x-token-tw

WLD幣價格單日內暴漲70% Bitcoin Hyper推動比特幣DeFi新百倍幣

Mark Mak 2 hours ago
bitcoin

Bitcoin Miners Shift Strategy: Accumulation Over Selling Signals Stronger Bull Cycle

Ash Tiwari 2 hours ago

Premium Sponsors

Press Releases

  • イーサリアム...

    17 minutes ago
  • Първата meme монета с модел „Mine-to-Earn“ PepeNode събра $900K в пресейл – остават 7 часа до края на финансирането

    Първата meme монета с модел...

    11 hours ago
  • Zamień 300 $ na 30 000 $ dzięki tym 3 monetom, które osiągną 10 $ przed Ripple (XRP) i Cardano (ADA)

    Zamień 300 $ na 30 000 $ dzięki tym 3 monetom, które...

    12 hours ago
  • Zamień 300 $ na 30 000 $ dzięki tym 3 monetom, które osiągną 10 $ przed Ripple (XRP) i Cardano (ADA)

    Zamień 300 $ na 30 000 $ dzięki tym 3 monetom, które...

    13 hours ago
  • Primul Meme Coin „Mine-to-Earn” PepeNode strânge 4,2 milioane RON în presale – 7 ore rămase în etapa de finanțare

    Primul Meme Coin „Mine-to-Earn” PepeNode strânge 4,2...

    13 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.