Prohibition of cryptocurrencies in China declared opportunity for United States

A republican from the US Senate Banking Committee Pat Tumi considers the ban of cryptocurrency in China chance for the United States. This politician pointed out in his twitter account.

“Authoritarian suppression of cryptocurrencies, including Bitcoin, is great opportunities for the United States. This is also a reminder of our huge structural advantage over China. Beijing is so hostile to economic freedom, which can not even allow citizens to participate In the fact that it is possible, is the most exciting innovation in the field of finance over the past decades. Economic freedom leads to a more rapid growth and, ultimately, to a higher level of living for everyone, “explained the Tum.

People’s Bank of China (analogue of the Central Bank) called illegal any activity related to cryptocurrencies. The regulator promised to take tough measures to curb operations with digital coins. Foreign exchanges also forbidden to provide services to China Investors.

After the information has become widespread in the media, the Bitcoin rate fell by 3.7 percent. At the time of writing, the news is the most popular cryptocurrency costs 42,489.26 dollars.

US themselves also strengthen the regulatory measures against cryptocurrency. Chairman of the Securities and Exchange Commission, Gary General, takes a tough position regarding digital coins. In July, he called this industry “The West West of the US Financial System”, which “desperately needs the rules.” Due to the caution of the Coinbase Global Stock Regulator, has postponed its cryptocredit project. And in September, the United States first introduced sanctions against the service for the exchange of digital coins. The restrictions touched the platform SUEX OTC S.R.O., since a significant part of the translations on it was associated with illegal activities.

/Media reports.