Hey Peeps!
On December 1st, the US Senate Agriculture Committee held a hearing that was titled "Why Congress needs to ACT - Lessons from the FTX collapse".
During the hearing, the Chairman of the Commodities Futures Trading Commission, Rostin Behnam, said that cryptocurrency is "potentially a threat to national security”.
To give context, Behnam responded after being asked point-blank if cryptocurrency was a threat to national security, by Senator Roger Wayne Marshall.
The moment can be found at the 50:45 minute mark in the video.
Check out the full video of the Congressional hearing on Crypto:
“Folks will find a way to get exposure to offshore entities and activities, even if it’s prohibited in the U.S. - and we have to do something about that.” - Rostin Behnam, Chairman of the CFTC
This hearing was not good news for fans of decentralization.
There was a lot of fear-mongering and pushes for oversight and regulations.
I expect to see a wave of stricter laws focused on reeling in cryptocurrency and its freedoms.
What do you guys think?
Do you think Crypto is a threat to national security?
Or is this just a tactic to make it easier for government to get involved?
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