Senator Ted Cruz: Defending against excessive regulations and supporting Bitcoin

During an exclusive interview with Cointelegraph, US Senator Ted Cruz discussed his views on Bitcoin, the broader crypto industry, and the future of Texas.

As a self-proclaimed Bitcoin (BTC) miner, Cruz highlighted the potential of BTC to support small businesses, drive innovation, and act as a hedge against inflation.

Despite his positive outlook on the future of BTC and crypto mining, Cruz cautioned against hastily implemented government regulations, emphasizing the importance of Congress gaining a better understanding before taking regulatory actions.

“Very few Members of Congress understand cryptocurrency, so I am urging my colleagues to proceed slowly and carefully with any regulations governing cryptocurrency,” he stated.

Cruz expressed his enthusiasm for Bitcoin’s impact on small businesses, noting its ability to provide privacy, autonomy, and independence from government control.

“Most congressional Democrats are deeply skeptical of Bitcoin,” he remarked. “They don’t like that it creates individual freedom, privacy, autonomy, and independence from the government.”

Looking ahead to the administration of President-elect Donald Trump, Cruz anticipated that “Republicans will empower small businesses and cryptocurrency like never before.”

“I’m proud to lead the fight to protect cryptocurrency from excessive government regulation. I have introduced legislation to prevent the development of a central bank digital currency and to clarify that the Federal Reserve cannot unilaterally authorize it.”

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