'U.S. policymakers should leverage crypto’s oldest tool and the work of a mysterious figure who just turned 48 years old.' Opinion johnrizzo1986
So, as lawmakers consider the crypto market structure, how can they take advantage of bitcoin’s potential? First, they should write into law thethat bitcoin is a commodity. Second, they should set up a regime of spot market regulation overseen by the Commodity Futures Trading Commission.
Third, they should ensure that bitcoin mining takes place in the U.S., where the environmental impacts can be more strictly managed than in a country with. Finally, they should incentivize bitcoin mining, which uses renewable energy and pays workers family-sustaining wages. As we approach two decades since Satoshi’s landmark white paper, we still know very little about this enigmatic author’s politics or identity . But we understand that this person created an innovation – a technology derivative of another technology, encryption. As we’ve seen repeatedly, technology can be used for good or bad. It can create jobs or destroy them. It can harm the environment or bolster efforts to protect it.
As Congress launches into making crypto policy, here’s hoping they take advantage of this unique Bitcoin opportunity. They can even draft the legislation
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