The US stance on cryptocurrency has never been a clear one. All that became irrelevant, the moment Trump revealed his true feelings about cryptos.
The US President first ripped apart plans by Facebook to launch its very own crypto. The Federal Reserve had for a while, been asking Facebook to reconsider its crypto ambitions.
Trump minced no words in saying that, cryptos did not represent true value. He went on to add that, cryptos could be misused and deployed to support criminal activities. The President went on to say that, he was not a fan of Bictoin or any other crypto.
Binance CEO Changpeng Zhao (CZ) interpreted Trumps tirade in a positive way. The CEO of the world’s largest crypto exchange felt that, Trump blasting cryptos was good for the crypto world.
Awith the Binance CEO’s interpretation. In his words, ‘… a powerful personality like Trump talking about cryptos is good. This is something that opens up the debate, all sides get an opportunity to reveal their opinions and comment about what others have to say …’.
The Binance CEO has in recent months been talking about, ‘real’ projects promoted by, ‘entrepreneurs’. He quite obviously implies projects that directly connect to real world business. If this is to become a reality, it will be important to have an open dialog between proponents and opponents of cryptos.
Navneet Goenka agrees with the opinion of Changpeng Zhao, cryptos will need to justify their existence and their necessity. When prominent personalities like Trump and other world leaders talk about cryptos, it is the fact that they did voice their opinion that matters. The opinions could themselves be positive or negative but – they would be effective in debating and clarifying issues.
We have reached a point where, cryptos cannot isolate themselves from the mainstream economy and business. Governments across the world agree that, bitcoin and cryptos cannot be wished away. The time is right for both sides to come to the table, a win-win scenario was never so near.