You can also find out more about the Bitcoin Policy Summit Today, U.S. Congressman Patrick McHenry (R-NC) emphasized the importance of the United States taking a leadership role in Bitcoin and not lagging behind in during a fireside chat with Club for Growth President David McIntosh.
JUST IN: 🇺🇸 Congressman Patrick McHenry says the US needs to be a leader in #Bitcoin 👏 pic.twitter.com/jC20GaurXe
— Bitcoin Magazine (@BitcoinMagazine) April 9, 2024
“This is where the action is, this is a bastion of freedom,” McHenry replied when asked to explain why he spoke at this morning’s Bitcoin Policy Summit. “The way I view Bitcoin is — what Satoshi brought into this world has been unstoppable. Every regime that has tried to shut it down as failed, even the Chinese communist party that tried to shut down Bitcoin couldn’t. And so it is an unstoppable piece of technology.”
McHenry, known for his advocacy of financial innovation and technology, emphasized the need for his collogues in office to become educated on Bitcoin, acknowledging the challenges of regulating this technology with uninformed policy makers.
“The dumbest way to try to obscure your transactions are to do them in public,” McHenry explains. “And the level of embarrassment when senators and members of the house ask questions about this on how to obscure these transactions. And when you have to explain to them that this is an open ledger that people can see the movement of value, and they don’t understand that…Cash is still king in illicit finance.”
He also highlighted the importance of a broader understanding “it is a much easier conversation” It would be a good discussion to start with your fellow politicians, if you were to suggest that they read Satoshi’s Bitcoin White Paper before deciding to pass legislation. McHenry claimed that the policy makers’ lack of knowledge about Bitcoin has caused them to fall into rabbit holes of false information. This causes them to legislate based on the information they have.
McHenry, in his message delivered at the Bitcoin Policy Summit, expressed a strong sense of urgency, and an opportunity to lead the Bitcoin revolution. The United States should embrace this potential and set a new course in terms of finance and technology.
“I’m trying to convince policy makers on the hill to embrace and for the United States to be leaders in, rather than fall behind. And I want to make sure you all hear that message clearly,” “Congressman McHenry” said.
BPI has a website where you can find out more about its annual Bitcoin Policy Summit. This includes the complete agenda and speakers. here. On https://www.youtube.com/watch?v=Bitcoin Policy Summit, you can find the livestream of this event. YouTube You can also find out more about the following: X (Twitter).
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Source: bitcoinmagazine.com