WASHINGTON, D.C. -- Yesterday marked the closure of the Financial Crimes Enforcement Networks (FinCEN) request for public comments on their proposal to radically regulate cryptocurrency transactions. Our activist community strongly challenged this proposed rule that would fundamentally change the nature of cryptocurrencies as we know them. Below, you will find some of the comments submitted by our activist community opposing this docket:
Blockchain technology and the free market that created it is far safer, more secure, and more trustworthy than any government bureau or government official could ever be. Free enterprise and free market scholars all agree that any government intervention and government regulation is burdensome, inefficient, and prone to abuse. Keep your hands off my crypto! - Charles P
The Biden Administration should not be looking to regulate or track crypto-currencies. The federal government regulates and controls money and the banking and financial industry too much already. We need to reduce government regulation and interference in these areas not increase. The government's control of money has led to the government spending far more than it otherwise would. We need to reduce government spending and control of money and banking, not increase it. The massive government consumption undermines the productive capability and standard of living because it undermines saving, investment, businesses, and people doing what they want with the money they have earned. It's wrong to allow the government to siphon off and spend so much of taxpayers' money. - Brain S
There's no point in Bitcoin or other crypto-currencies existing if the government is just going to manipulate and/or track them the same way they do the US Dollar. I strongly urge you to vote against any and ALL legislation or rules that would do so little as to even enable tracking or manipulation in any way, shape, or form. Money is not the business of government, and there's no place in the Constitution that grants such a power to government, AND, it specifically excludes any power not granted within to be reserved to the states, or the people. Clearly, this belongs in the people's hands, and NOT that of any form of government. - Stephen M
Additionally, FreedomWorks Foundation is proud to announce that Beverly McKittrick has joined the Regulatory Action Center to serve as the institutions director. Given her wealth of experience both inside and outside the administrative state, we are excited to have her join the team and lead the charge against onerous regulations.