Main to remember
- Donald Trump congratulated the testimony of Peter Van Valkenburgh Senate as the best explanation of Bitcoin.
- The Trump administration has moved to a pro-Crypto position, promoting initiatives and user-friendly Crypto regulations.
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Trump shared on Sunday a video on Truth Social in which Peter Van Valkenburgh, Executive Director of Coin Center, gave a detailed rupture of Bitcoin. He congratulated him as the “greatest explanation of Bitcoin of all time”.
The video presents the testimony of Van Valkenburgh in front of the senatorial committee of banks, housing and urban affairs during an audience entitled “Exploration of the cryptocurrency and blockchain ecosystem” in 2018.
“Bitcoin is the first cryptocurrency in the world, and it works because of the world’s leading public network,” said Van Valkenburgh in his testimony. “It allows you to send and receive value to and anyone in the world using nothing more than a computer and an internet connection.”
He also addressed potential vulnerabilities in traditional financial systems, warning that intermediaries of companies controlling key infrastructure is becoming more and more concentrated and that their failures have more serious consequences.
Trump, who had criticized Bitcoin and digital assets during his first mandate, became an crypto supporter in his second presidency, becoming the first pro-Crypto president of American history.
Its administration has implemented several cryptographic user -friendly initiatives, including the signing of a decree to establish a strategic bitcoin reserve using coins.
Trump on Friday promulgated the engineering law, which would establish federal standards to regulate stablecoins in the United States.
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