Ron Paul alerted investors: Government can still ban Bitcoin

Former US Congressman Ron Paul says he still expects the government will criminalize bitcoin because he is “inspired a great deal by history and the gold past.” Despite his caution, Paul stated that cryptocurrency “should definitely be authorized.”

Let us talk about future

Paul is a former politician, author, and physician from the United States.

In June of last year, the former congressman stated that he wanted bitcoin to be completely legalized in order to compete with the US currency and that the people should decide. “My goal is to make competition legal, and the people will take care of the rest.” He believes that “freedom of choice” will address the problem.

Former presidential candidate Ron Paul spoke with Kitco Nszews’ Michelle Makori on Thursday on the future of bitcoin and the economic impact of the Russia-Ukraine conflict.

As interest in cryptocurrency grows, Ron Paul discusses it.

The Ron Paul Liberty Report was founded in 2015 by the former Texas congressman to provide “provocative opinion and analysis to the breaking topics affecting our lives and money,” according to the website.

The former lawmaker has often warned that the government may take action against bitcoin.”My concern is that governments have always been known for their desire to control money.”

However, interest in bitcoin has lately increased, with more institutional investors backing the ecosystem. Following Russia’s invasion, the Ukrainian government established a legal framework for cryptocurrencies this week. It has established an official cryptocurrency contribution page. Furthermore, Bitcoin (BTC) is presently legal money in El Salvador.

Bitcoin ban

Since its conception in 2009, Bitcoin has been full of controversy, as have the numerous cryptocurrencies that have shown up in its path.

The legal status of Bitcoin and other altcoins (alternative currencies to Bitcoin) varies widely by country, and in other situations, the link isn’t apparent or is constantly changing.

While often criticized for its volatility, usage in criminal activities, and expensive consumption of power to mine it, others, particularly in the underdeveloped countries, consider Bitcoin as a safe haven amid economic storms.

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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing