Senator Ted Cruz reiterated his support for bitcoin for its decentralization, but was criticized by users for using bitcoin for their political interests.
During
speeches At the Conservative Political Action Conference, Texas Senator Ted Cruz voiced optimistic thoughts on bitcoin. He cited the situation in Canada with the Freedom Convoy truckers protesting against quarantine measures as an example. The Canadian government has asked banks and financial institutions to freeze the protesters’ accounts. Similar requirements were made for virtual asset service providers.
Cruz mentioned
answer Nunchuk non-custodial wallet to the Canadian government, calling it “impressive”. Nunchuk stated that he is a free software provider and not a financial intermediary. It does not have keys, so the service cannot freeze users’ crypto assets or prevent them from moving. Nunchuk does not have access to any financial information of its users. Then the management of the service recommended that the government of Canada study the principles of how private keys work and use them when the Canadian dollar depreciates.
Senator Cruz also stated that he supports bitcoin for its decentralization and the inability of governments to control it. This is why the Left is always anti-Bitcoin, Cruz tweeted. However, Cruz was criticized by the cryptocurrency community for this statement. Some users responded to the senator that bitcoin has nothing to do with politics, and using it to oppose “left” and “right” is at least unethical. Others have pointed out that Cruz is using his bitcoin knowledge to advance personal interests and have suggested that Cruz’s political opponents become bitcoin supporters to oppose him.
In addition to Ted Cruz, there are other American politicians who support Bitcoin. For example, Senator Cynthia Lummis, who has long been considered a supporter of cryptocurrencies. Last week, she suggested that the US Federal Reserve invest in bitcoin when the country creates specific rules to regulate the industry.
Source: Bits
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