Fight Regulatory Overreach, Support Bitcoin — TradingView News

In an exclusive interview with Cointelegraph, US Senator Ted Cruz shared his vision for Bitcoin, the broader cryptocurrency industry, and the future of his home state of Texas.

As a Bitcoin (BTC) miner, Cruz emphasized BTC’s potential to empower small businesses, drive innovation, and act as a hedge against inflation.

Although optimistic about the future of Bitcoin mining and cryptocurrencies, Cruz warned against hasty government regulations, stressing the need for Congress to understand better before going overboard with regulatory measures.

“Very few members of Congress understand cryptocurrencies, so I urge my colleagues to move slowly and carefully on any regulations governing cryptocurrencies,” he said.

The impact of Bitcoin on small businesses

Cruz said he is “optimistic about Bitcoin,” praising its ability to provide privacy, autonomy and independence from government control.

“Most Democrats in Congress are very skeptical of Bitcoin,” he said. “They don’t like that it creates individual freedom, privacy, independence and independence from the government.”

With the upcoming administration of US President-elect Donald Trump, Cruz predicted that “Republicans will unleash small businesses and cryptocurrencies like never before.”

“I’m proud to lead the fight to defend cryptocurrency from overreaching government regulation. I have introduced legislation to prohibit central bank digital currency development and to make clear that the Federal Reserve does not have the authority to do so unilaterally.”