US Secretary of State Wants Bitcoin To Be Regulated Similar to Other Electronic Transactions

Mike Pompeo, the U. S. Secretary of State, wants to regulate Bitcoin (BTC). According to him, the asset should be regulated in the same way that all other financial transactions which made online currently are.

During a recent interview with CNBC’s Squawk Box, he affirmed that anonymous transactions are very risky and that terrorists might start to use it if they remain unregulated. According to him, the country has moved forward a lot when it comes to tracking money, so not doing it would open a breach for illegal activities.

To him, if anonymous transactions become the norm, this would greatly decrease the security of the whole world, which can become an issue as time passes.

The host of the show, Koe Kernan, brought up that the Treasury Secretary Steve Mnuchin affirmed that more Bitcoin is used for illegal activities than cash. Pompeo supported the other secretary in his allegations against crypto.

According to Mike Pompeo, however, the main difference between him and his colleague is that Mnuchin wants a very tight and specific regulation on Bitcoin, while he believes that the asset should just be regulated as any other asset currently is.

Unfortunately, neither of the secretaries seem to understand Bitcoin very well. It has been proved several times that fiat currency is used way more than Bitcoin in money laundering and terrorism financing, so there is no excuse to keep being ignorant on the subject.

Bitcoin is also very hard to regulate, so they would probably have a very difficult time to do the same that can be done to similar digital transactions.

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Author: Lillian Peter

Mike Tyson’s New Startup ‘Fight to Fame’ Will Mix Up Entertainment with The Blockchain

Mike Tyson, the famous American boxer star, has recently decided to create a new startup. The platform is set to be an entertainment platform for fighters that will be called Fight to Fame.

This new platform is set to use the blockchain technology to create the conditions that will help aspiring fighters to reach success.

According to Tyson, the platform, which will have Farzam Kamalabadi as CEO, will fulfill one of his goals, which was to be a mentor for new generations of boxers. He affirmed that he’s interested in helping them to find success and real compensation in their careers, so this platform will be his pet project.

Kamalabadi affirmed that the blockchain will be important because it will enable the participants to solve problems that were simply impossible to solve before. This way, fighters can use fan tokens to get money other than the fees that they normally get in the industry.

In this model, the fans can also gain money if the value of the tokens goes up, which can help the fighters and the communities of fans which are created around them.

The new platform is set to be “fully immersive” and use the blockchain to provide a completely new experience. It was also affirmed that the project can be important for the blockchain industry as well. Tyson is a very famous figure, so his endorsement of projects like this one will certainly be important for them to be successful in the future and can drive adoption up.

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Author: Hank Klinger