Legalize Bitcoin! – Congressman Ron Paul on BTC in the USA

Legalize Bitcoin! – Following this motto, former Congressman Ron Paul expressed himself in an episode of the Stephan Livera Podcast, which appeared last Sunday.

Paul describes its view over the current relationship of the US government to the crypto currency Bitcoin.

Straight one in times, in which the G7 states call for an acute regulation of crypto currencies, seems this topic more important and current than ever.

Ron Paul about Bitcoin Lifestyle app in the USA

Ron Paul belongs to the old iron of the American political establishment.

Paul is a former congressman and was already a candidate for the US presidential elections. The Texan is considered a libertarian free spirit.

In a recent interview, Paul spoke about Bitcoin and crypto-currencies in general. In short, Paul urges people to be more vigilant and take responsibility for their own actions.

Let us now look at the individual statements of the former presidential candidate.

Could the U.S. government confiscate Bitcoin as well as gold?

In essence, Paul expressed his concerns about strong regulation by the US government.

Paul said that he perceived the seizure of crypto-currencies like Bitcoin by the authorities as a real danger. Such a move has happened three times in the past in the US.

The last time state authorities confiscated the gold of the people was during the Great Depression of 1933.

Specifically, Paul said

The more successful crypto-currencies and especially Bitcoin will be, the more you must be aware that the U.S. government will be more aggressive. Crypto-currencies are not a product of governments and therefore they have a very close eye on them.

Paul is considered an advocate of crypto-currencies

In the overall context, we must note that Paul has already come out as a critic of the US Federal Reserve Bank on several occasions.

In this respect, the former Congressman, who retired from Congress in 2013, is considered an advocate for Bitcoin and Co. By the way, he received his first Bitcoin from Litecoin founder Bobby Lee.

As early as 2013, Paul launched a „Legalize Bitcoin“ approach with the aim of allowing currency competition.

When I was in Congress, one of my goals was to fully legalize Bitcoin. I had a bill that would have allowed currency competition. The problem is that it would have created competition for the US dollar and there are some people who absolutely don’t like that.

Regulation still a threat to Bitcoin?

Paul repeatedly stressed that he still sees government regulation as a major threat to Bitcoin and crypto currencies in general.

In memory of the 1933 act of confiscation of U.S. citizens‘ gold holdings described above, Paul warned against too much complacency from the crypto community.

Even if the tenor is repeatedly heard here that Bitcoin is a decentralized currency that comes from „outside“ and cannot be confiscated, one should not underestimate the power of the U.S. government.

If the government can come and take away your gold holdings, I do not believe it would be neutral in crypto-currencies. Someday the world will come without cash and governments will want to use their money and know what is going on.

What is certain is that an indirect ban on stock exchanges and trading platforms and the restriction of Fiat access would already be a hard blow for Bitcoin and Co.