Ted Cruz pressures Capitol Hill sellers to accept cryptocurrencies

Ted Cruz, a Republican senator and representative from Texas, wants to impose an El Salvador-style mandate on Capitol Hill. It introduced a new legislative proposal that would require all of its providers to accept crypto payments. Cruz has been very supportive of cryptocurrencies before, and his proposal could help other politicians get acquainted with the technology.

Ted Cruz’s proposal

Two days ago the senator presented the “Adoption of cryptocurrency in Congress as a payment exchange for the settlement of transactions.” He asks Capitol buildings in certain jurisdictions to include “people who will accept digital assets as payment for goods.” It also requires that gift shops in those same jurisdictions be encouraged to accept cryptocurrencies.

Cruz then spoke to Breitbart News about his idea. With this proposal, he hopes to familiarize the government with the industry before it leaves it behind.

“Congress is generally slow to adopt new technologies. My bill would position Congress to lead on this issue by making congressional dining rooms, vending machines, and gift shops accept cryptocurrency payments. “

He is not the first to acknowledge this fact. 20 years ago Peter Thiel predicted something very similar to Bitcoin and hoped governments would completely ignore it.

resolution makes sure to prohibit any payment arrangement that “excludes” other preferred payment methods in addition to cryptocurrencies. As with El Salvador’s Bitcoin mandate, companies are still free to accept dollars as payment.

Read also Bitcoin plummets to the lowest levels of the month

Bukele’s law and Cruz’s proposal are similar in that they are not intended to be overly coercive. However, both try to familiarize legal adherents with cryptocurrencies at the very least.

senator acknowledges that more and more companies accept cryptocurrencies as a payment method. For example, Quiznos launched a pilot program months ago at some Denver locations to accept Bitcoin for food. In addition, Venezuela’s international airport plans to accept Bitcoin for airline tickets.

Ted Cruz. Source: CNBC

Congress must pay attention to cryptocurrencies

Last month, Senator Cruz was extremely outspoken about the controversial cryptocurrency clauses in the infrastructure bill. bill called for the imposition of taxes on “crypto brokers,” a poorly defined term that could include exchanges, miners, or even node operators.

Cruz withered the apparent rejection by Congress of this poor wording in favor of the debate on partisan issues. Recalling his ignorance of all space, he claimed that his decision was “reckless and damaging” to the industry,

Source link

more

Related Posts

© 2024 Cryptocoin Budisma.net