Ron Paul: the government should stay out of digital currency environment

Ron Paul, who run for presidency and was the U.S. Representative for Texas' 14th and 22nd congressional districts, has voiced his views on cryptocurrency. In short, digital currencies are not money for him, but the growth of them should not be underestimated.

“If people want to use it, the government should stay out of it”, believes Ron Paul. This position absolutely fits the beliefs of libertarians – and here is a perfect moment to remind that he was a member of Libertarian Party. “There is too much surveillance already on how the currencies are transferred [and how] the reports have to be made by the exchanges to the IRS,” said Paul in his interview to TheStreet.

“Quite frankly, I do not understand the technologies of cryptocurrencies… I just want to make sure that no fraud is involved, but I’m also concerned about the government involvement”, explained Ron Paul. This demonstrates his openness to new ideas, as many traditional and old financial experts who do not understand the technology of digital currencies are much more skeptical towards it.