U.S. Senate remains a burning ground for the crypto debate, there are some members who don’t even know what crypto means or what the basis of the technology is and there are those who are fully caught up with everything there is to know about this technology. This standing of people at two different extremes makes the crypto debate the most fun and craziest within the Senate. As of late some of the top Republicans have come forward in support of the cryptocurrency because of the fact that they are getting some refined support from the crypto community and have secured quite the list of voters from the crypto space.
A specific congressman Madison Cawthorn took to Twitter to express his feelings about cryptocurrencies and the bustling need to make crypto the new gold standard. He didn’t engage in a long debate or a very lengthy text on Twitter, he just went there and wrote that why don’t we employ cryptocurrencies as the new gold standard? He might have had shrugged his shoulders in awe when doing so, who knows? Madison as the North Carolina Republican has now joined his state of mind with other conservatives who think that making cryptocurrency the new gold standard would do our world of finance a solid.
Madison Cawthorn Comes in Support of Cryptocurrencies
But here comes a question that if crypto is to replace gold as the standard of wealth then what would become of the global stock markets and the fiat currency which is active and in hands of the people? Wouldn’t these be affected? Yes of course but when these leaders are proposing this change they might have something thought of in there to tackle these issues as well. Many comments and thoughts are being poured down into the Senate by various members but the most exceptional of these came from Blake masters who is a member of the Arizona Senate as he proposed adding Bitcoin to America’s strategic reserves.
Ted Cruz, who is a Texas senator has recently accused Democrats of destroying the crypto community without even understanding what it is. This recently emerging bias within the US Senate for cryptocurrencies is definitely a good thing because before that cryptocurrencies were not even given a chance to be understood and brought into the conventional legal framework around which monetary policies are built but it seems that it is going to be changed now.