According to Abra, the cryptocurrency general director, Bill Barhydt, the US government will not be able to ban Bitcoin, since it is protected by the American constitution.
“The US authorities have no legal opportunity to ban Bitcoin, because it is protected by the American constitution providing for freedom of speech,” said Bargidt.
Many opponents of cryptocurrency declare that Bitcoin does not have a long-term potential in terms of investment, because at any time the governments of leading countries can prohibit cryptocurrency. However, it is worth noting that Bitcoin is based on a decentralized network, so its full shutdown is impossible, although legal restrictions are likely.
Speaking at the Bitcoin 2019 conference in San Francisco, Bargidt said that Bitcoin is a computer code, and code is also part of the word. According to the first amendment, freedom of speech is a constitutionally protected civil right. Thus, the US authorities have no right to prohibit cryptocurrency, although Bargidt does not deny that the authoritarian governments of China and India can do this.
“Bitcoin is rarely spoken in the context of freedom of speech, but it must remain a protected human right. I look forward to a congressional hearing in which we can discuss the protection of human rights when working with this technology, ”he said.
Bargidt made his statement during the discussion of the call of the US Congress to suspend the development of a cryptocurrency project Facebook. He noted that the authorities have leverage on the developers of Libra, because it is more centralized than Bitcoin. Bargidt said:
“At the moment, it is impossible to prevent people from storing or transmitting zeros and ones on devices that they have in their pockets. But the authorities can put pressure on the edges of the system – banks, stock exchanges, steyblokoin and other tools that allow you to exit the cryptocurrency in the fiat currency for further spending. However, the US government does not have the opportunity to stop Bitcoin. The Supreme Court has already commented on this. ”
Note that last June, Judge Stephen Breuer mentioned Bitcoin, setting it as an example of the changing nature of money, and put forward the theory that perhaps employees will receive wages in Bitcoins or other cryptocurrencies once.