July 17, 2018
I believe that it is imperative that the US begin the process of regulating cryptocurrency and blockchain technology to keep up with countries like China that have already gone into a cashless society. India will be there in a year, and we will still be using credit cards to pay for everything while in said countries you can buy street food with a QR code. We are falling behind for the first time in decades.
From the Government's perspective, I can't see how the Fed would be against it if regulated correctly. Other countries are already in pay like you know, and it is very hard from someone to commit Tax Fraud when in a blockchain ecosystem. Take for example how the Russian Diplomats were discovered to be using crypto to influence the election. If they had used cash, we would have never known. I am a strong crypto supporter and support any measure that helps get it main stream. Thanks for your time.
-Thomas Lee