Bitcoin (BTC) is money and should be taxed the same way, says famous politician Ron Paul »Crypto Insiders

Famous American politician Ron Paul thinks so Bitcoin (BTC) Money and must be recognized as such by law. Former Republican presidential candidate calls for full endorsement of Cryptocurrency.

Abolition of Legal Bidding Laws – We Need Currency Competition in Americahttps://t.co/WH7hHMHiwl pic.twitter.com/kdpQJzaTZG

– Ron Paul June 3, 2021

“Help legitimize competition and I think people will solve it on their own. Freedom of choice solves it.”

The liberal said in an interview with Kitco News on June 3. Paul, 85, acknowledges that bitcoin, like gold, is being sought as an alternative to the US dollar. Both originals are treated as hedge or collar Or a safe haven against the unprecedented printing of paper currency by central banks.

According to Paul, these alternative forms of money must also be recognized as such by law and then taxed in the same way as fiat currency:

“Right now, if you buy and sell gold, it gets taxed. They can. When you make a profit with Bitcoin, you read stories about people who are taxed. You can’t tax money, it doesn’t. If you buy A year ago and fell 10%, you can’t afford to lose because the dollar has lost its value.”

However, Paul expects US regulators to further regulate and tax cryptocurrencies as they compete with the dollar. According to the former member of the House of Representatives, governments are known for their desire to have complete control over money and they will never relinquish that control.

pol . appears This weekend at the massive Bitcoin event in Miami to say the following:

I won’t try to technically explain exactly if that’s the case [crypto] Good, bad or indifferent. I will advocate more for the legalization of freedom of choice and for people to be able to decide for themselves and not the government on their behalf.”