Former US Politician Ron Paul Finds BTC Is Money

by in Cryptocurrency News

Ron Paul about crypto

Ron Paul, former U.S. Representative for Texas's 22nd congressional district, said in a recent interview that he finds Bitcoin is a form of money and should be treated like that.

Related: Joe Biden's 2022 Budget Proposal Defines New Crypto Rules

There were discussed topics as inflation and issues with money printing and supply.

Dr. Paul has always been a supporter of a free market and liberalism. During the interview, he said that many people turn to crypto and that cryptocurrencies must be legalized and there must be free competition. The former congressman gives importance to personal liberty and his perspective is that it must be people making decisions and not the government.

He stated when people purchase gold they get taxed, and if they make income in BTC they get taxed. Dr. Paul compares this with dollar purchase saying that in the dollar's case, if you bought a USD a year ago and then the price dropped 10%, you can't take a loss because of USD's devaluation. Saying this, he points out that money can't be taxed.

Ron Paul will participate in Bitcoin 2021 Miami Conference, which will be the biggest BTC event in history with around 12.000 participants.

Currently, crypto regulations are getting stronger. According to a government budget document presented by Biden's administration, crypto trading platforms and wallet operators must report details on passive businesses and foreign owners.