Ron Paul: Government Should Stay Out Of Cryptocurrency Issues

Blockchain, FinTech, Investing, News | October 30, 2017 By:

One-time presidential candidate and noted libertarian Ron Paul is a bit of a bitcoin fan. In an interview with TheStreet, he warned that government will be increasingly sticking its nose into cryptocurrency.

“There is too much surveillance already on how the currencies are transferred, [how] the reports have to be made by the exchanges to the IRS,” said Paul, now the Chief Ambassador for Goldco. “If it is a really good deal and a good process rest assured the government will be looking at it very carefully…it makes me very nervous.”

Legalizing cryptocurrency should be a decision left to the people, he added. “If the people want it and want to use it, the government should stay out of it.”

Paul now works for a company that is touting gold, so he hedged when asked whether cryptocurrency can serve as money. He mentioned fraud as one reason, with government oversight also an issue.

Even though he wouldn’t give a full-throated endorsement of crypotocurrency, he did say blockchain “has a lot of future to it.”