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American Crypto Investors Strongly Need Congress to Support Crypto


coinedition.com 19 March 2023 11:56, UTC
Reading time: ~2 m

The Digital Asset Investor, a popular Twitter account claimed to be for entertainment, retweeted the post of Ryan Selkis, the founder and CEO of the market intelligence platform Messari, in which the latter posited the necessity of the US to “ban or restrict” crypto seizure. The Digital Asset Investor asserted that if a “tyrannical government” decides to seize crypto, it would adopt ways to either make the investors part with it or make the asset “not worth having”.

Notably, the Digital Asset Investor, tweeted on March 19, that the “Endgame question” is always regarding the possibility of either keeping the assets or even being rewarded:

It doesn't matter if you control the private keys. If a tyrannical government decides you can't have an asset there are many ways to make you part with it or make it not worth having. He knows👇👇👇The End Game question has always been…will we be allowed to keep it or at… https://t.co/rDTzsFn1Or pic.twitter.com/mlmxnztDme

— Digital Asset Investor (@digitalassetbuy) March 18, 2023

On March 18, Selkis shared a Twitter post reiterating that he is no longer confident that “private property seizures are impossible”, adding:

There are a lot of Americans who would like Congress to explicitly guarantee that it is illegal for the executive branch to seize Bitcoin, Gold & other commodities, and other financial property w/out due process.

As a response to Selkis’ tweet, Gordon Gekko, the chief architect of the meta governance protocol PowerPool, commented that an additional right should be included in the Bill of Rights; the Congress should never invent laws that would hinder the individual’s right to “freely manage digital assets on decentralized public ledgers”.

Significantly, on March 16, Selkis tweeted about certain concerns that Congress should consider including the restrictions on crypto asset possession as well as digital asset development and security:

Congress should:

1. Oppose any and all efforts to ban or restrict the use or personal possession of Bitcoin and other digital assets.

2. Oppose any and all efforts to unfairly target or impede the development, accessibility, and security of Bitcoin and other digital asset tech.

— Ryan Selkis 🥷 (@twobitidiot) March 16, 2023

Interstingly, the Messari CEO pointed out that Congress should strongly oppose any initiatives taken against the possession of crypto, adding that all “efforts to unfairly target or impede the development, accessibility and security” of digital assets should be controlled by Congress.

While the Digital Asset Investor retweeted the content of Selkis, the US crypto aspirants responded actively showcasing Congress’ obligation in supporting the crypto industry. There were many tweeters who commented that it’s better to find other nations if the US stands hostile to crypto.

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