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Chinese central bank statement on crypto may present opportunity for US

Senator Patrick Joseph Toomey Jr. sees opportunities in PRC decisions

26.Sep.21 7:17 AM
By Shawn Highstraw


Chinese central bank statement on crypto may present opportunity for US
The bitcoin rate dived down by several thousand dollars after the Chinese People's Bank of China announced that crypto transactions are still banned in the country.

In the end, this was merely a repetition of policies that were already in place in september 2017, but were emphasised by the bank. U.S. Senator Patrick Joseph Toomey Jr. says this is an opportunity for the United States.

According to Toomey, the United States should see China's policy as an opportunity for the country to be open to innovation. In his view, it is a reminder of the structural pre-accession that the United States has on China in that respect.

Prominent bitcoiner and podcaster Anthony "Pump" Pompliano expressed his satisfaction with Senator Toomey and expressed his agreement on this issue.

"Quite true. Thank you for highlighting this important aspect," says Pomp via Twitter. Toomey also said that economic freedom generally leads to a higher standard of living for everyone.

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