- Davidson shares the importance of crypto wallet privacy.
- The US Constitution grants citizens the right to own guns.
- Lummis says that Bitcoin is a fantastic asset to match the US dollar.
The US Congressman, Warren Davidson, and US Senator Cynthia Lummis had the lively Bitcoin 2020 conference held in Miami. The interview was about “Bitcoin as a store of value” while questions gradually took a shot for crypto wallet privacy.
Responding to a question regarding the potential of over-regulation in crypto, Davidson expresses that it would be a terrible approach. Because someday, someone will try to ban private wallets, so people should protect them and explain the importance to the government.
According to Davidson, the US Treasury proposed a strict overwatch on self-protected digital asset wallets with certain specifications, such as more information from users transacting with wallets kept off crypto exchanges, in December 2020.
Adding to this, Lummis states:
“If they do not have a bank account, they can act as their banker by using their mobile phone. And that is one of the most wonderful aspects of Bitcoin about which I am ecstatic.”
Moreover, regarding the privacy issue, Davidson wants people to take the threat to privacy seriously as for the Second Amendment. The Second Amendment to the US Constitution grants citizens the right to own guns.
In addition, Lummis emphasizes the importance of educating the people of the US government. They attempt to educate the US senate about bitcoin as it is a fantastic asset matching the US Dollar.
Lummis also adds:
“Even if you live in Venezuela, where inflation is outrageous, and wish to export your wealth, you can do so through Bitcoin. And, if we get to the United States, we are experiencing the kind of Inflation we started seeing this year, we might also want that option.“
Besides, Lummis feels optimistic about the future of regulations. As of now, the Bitcoin 2021 conference in Miami has seen a lot of activity in terms of speakers and discussions. On Saturday, the event will continue for a second day.
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