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Ted Budd: Cryptocurrencies could be 11/XNUMX of finance for some politicians

However, the Republican representative of North Carolina has different ideas on the subject

The hunt for cryptocurrency it now seems open within Congress. After the heavy attacks of Elizabeth Warren e Sherrod Brown, now it's the turn of Tedd Budd to open fire against digital assets, albeit indirectly. Member of the House and Congressional Financial Services Commission Blockchain Caucus has indeed argued that digital money could turn into a sort of 11/XNUMX of finance, according to some colleagues. Given the impact that the attack on the Twin Towers still has on the stars and stripes public opinion today, this is a real low blow to the universe. crypto.

Ted Budd - Ted Budd: Cryptocurrencies could be the 11/XNUMX of finance for some politicians

The words of Tedd Budd

Theodore Paul “Ted” Budd is a Republican, called to serve as a member of the House of Representatives representing North Carolina. Over the Maker Speaker Series, event sponsored by Maker DAO, the lending protocol based on Ethereum, has made statements to be taken into account to understand the atmosphere around cryptocurrencies.
According to him, in fact, many colleagues are convinced that virtual money poses a danger to national sovereignty. And that, in addition to destabilizing the dollar, it is destined to damage the security of the United States. However, he did not want to specify the names, which are however easily recognizable.

The front of those opposed to cryptocurrencies

The first names that have been evoked after Ted Budd's statements are those of Maxine Waters e Rashida Tlaib.
The first is now known for opposition in front of Libra, Now diem, the Facebook cryptocurrency. Tlaib, in turn, got noticed for it Stable Act, which would require issuers of stablecoins to issue bank cards only with adequate reserves, in line with the standards indicated by the FDIC.
However, the now omnipresent ones should not be forgotten Liz Warren e Janet Yellen, you become something of a nightmare for the crypto space. Which certainly do not beg to release statements that portend an imminent squeeze on digital assets. Such as to too often resemble real urban legends or to seem the result of simple prejudices. So much so as to push Mike Novogratz to affirm that the political world needs an education on the subject.

Ted Budd's thinking on cryptocurrencies

Ted Budd himself can now be considered the classic voice out of the chorus, having ideas radically opposite to those of the colleagues mentioned. In fact, according to him, innovations such as decentralized finance would in no way jeopardize the economic stability of the United States or its security. As for global economic leadership, indeed, precisely by ignoring financial innovation it would be jeopardized. Especially at a time when the China it is one step away from the finish line in its digital yuan.
On one thing, though, Budd agrees with the opposing faction: really stringent regulation is needed of digital money. Such as to go to ensure consumers and avoid scams to their detriment. Stating that not doing it is equivalent to doing a favor to those who have everything to gain from the failure to regulate the sector. In other words, large companies, which can thus impose their full weight to the detriment of small businesses and consumers.

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Dario Marchetti

I have a degree in Literature and Philosophy from the Sapienza University of Rome, with a thesis on the eastern border of Italy at the end of the First World War. I have collaborated with several sites on many issues and led the work group that published the official CD-Rom of the SS Lazio "History of a love" and "Photographic History of Magical Rome".

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