Arman Shirinyan
Edward Snowden believes battle between Bitcoin and regulators slowly turning in favor of fans of digital assets
Edward Snowden boldly declared “We are winning ladies and gentlemen” at the recent Bitcoin conference. The well-known whistleblower discussed his views on the present and future of Bitcoin, highlighting both its achievements and its obstacles. SEC chairman was targeted by Snowden, who said Gary Gensler is not daddy Bitcoin.
He called out Gensler’s staunch opposition to Bitcoin and brought attention to the continuous legal challenges the cryptocurrency faces. Despite these difficulties, Snowden had a message of hope and fortitude. Although he acknowledged the progress that Bitcoin has made, he issued a warning against complacency by saying we have not won, implying that there are still important milestones to be reached and that the journey is far from over.
The time of Snowden’s comments is when regulators around the globe are closely monitoring Bitcoin. One important aspect that could have a big impact on Bitcoin’s future is the regulatory landscape. Regulatory actions may nevertheless cause significant short-term volatility and uncertainty in the market, even though Bitcoin’s decentralized structure provides some resistance to centralized control.
Under Gensler’s direction, the SEC has regulated the cryptocurrency market aggressively. This entails working toward tougher laws and pursuing enforcement measures against non compliant entities. Such regulatory actions had a serious impact on Bitcoin and crypto in general, portraying the U.S. regulatory framework as one of the strictest when it comes to digital assets.
Snowden’s claim that we are winning is indicative of the general attitude among Bitcoin fans and the increasing acceptance of cryptocurrencies. Since the last Bitcoin conference, the digital assets industry saw numerous ETFs approvals, including Bitcoin and Ethereum.
Snowden’s remarks further emphasize how important it is for the Bitcoin community to continue being proactive and watchful, as regulatory environments change rapidly and things may go south quickly.
