U.S. congressman expresses the importance of crypto wallet privacy

At the lively 2021 Bitcoin Conference in Miami, Congressman Warren Davidson sat down with U.S. Senator Cynthia Loomis to take questions from a live interview. The interview turned to privacy, and Davidson responded to comments about crypto wallets.

“At the end of the year, if you think about it, Minister Mnuchin is talking about banning private wallets,” Davidson Say, To answer questions about the possibility of over-regulation of cryptocurrencies. “This is a terrible method,” he added. “If we don’t protect private wallets, someone will try to ban them.”

As Davidson said, in December 2020, the U.S. Treasury Department Strict supervision is recommended Regarding self-custodial digital asset wallets, there are certain details, such as asking users to provide more information, which is traded with wallets far away from cryptocurrency exchanges.

He said: “I hope that this country will take the threat to privacy as seriously as it treats the Second Amendment.” The Second Amendment to the US Constitution grants citizens the ownership of guns.

When it was her turn to answer, Lummis pointed out the importance of teaching Bitcoin to U.S. government officials. “We are trying to create a financial innovation caucus so that we can use it to educate members of the U.S. Senate and its staff about Bitcoin, its advantages, and why it is such a wonderful asset pegged to the U.S. dollar,” she said . Say. “It can become a basic network on a global scale, making the U.S. dollar a global reserve currency, but still allowing people to trade in a way that loves freedom very much,” she said, adding:

“Whether you are in Venezuela, where the inflation is outrageous, and you are trying to transfer your wealth abroad, you can transfer it out through Bitcoin. And, in the United States, if we get there we start to see this year At the level of inflation, we may also need this alternative.”

Last few yearsThe oil price plunge in 2014 was partly due to the general economic downturn, and Venezuela’s inflation level soared.

To date, the 2021 Bitcoin Conference held in Miami Preside over major actions In terms of speakers and discussions. The event will continue on Saturday the next day.