Banning Cryptocurrency Would be as Sensible as Banning the Internet

In the early 1990s, the rise of the internet coincided with the fall of communism and the Soviet Empire. It’s not a coincidence that as the internet grew in popularity and usefulness, democracies flourished around the world. The potential of the internet transcended borders and helped to change the world’s geopolitical structure.

However, as internet adoption proliferated, a number of negative uses cases emerged, sparking consumer protection concerns amongst regulators and governments. This isn’t much different from the early days of virtual currency when bitcoin was associated with drugs, guns and Silk Road.

In the case of the internet, officials and activists began calling for a blanket ban, not understanding the key role it would play in building a global community. Luckily, collaboration between countries and the World Wide Web Consortium (W3C) led to the creation of a global framework for electronic commerce in 1997, paving the way for internet adoption and growth.

You can read the rest of this article in The Hill.