During Bitcoin 2022, U.S.
There becomes an obvious burden as nation states recognize the success of Bitcoin and attempt to apply existing regulations to govern its use or create new laws to do so.
“There were concerns about whether bitcoin and digital asset exchanges would participate in sanctions , and they have, and they have been robust players,” Lummis noted.
The pseudonymic nature of bitcoin prevents this kind of information from ever being collected, which raised concerns, and suddenly it seemed, Bitcoiners became highly political.
“Not very many people are thinking about it and for a long time it’s been just about trying to evaluate the pros and cons,” Lummis answered.
Lummis alleviated the concerns of many in the crowd as she explained that, “If there is a digital product that is direct to consumer, it would be a stablecoin, as opposed to a CBDC direct to consumer.
“We had a witness who was in Ukraine and we asked him, ‘Would you rather receive help in bitcoin or in fiat currency’” she explained.