Cryptocurrency markets, which have been trying to enter a recovery process in recent days, took a big hit after the news of the ban from China this morning and even fell below the support levels from time to time. What about the decision to ban cryptocurrencies by China, could it be a “great opportunity” for the USA? According to US Senator Pat Toomer, the answer to that question is yes!
After the crypto money ban taken by the People’s Republic of China earlier today, the crypto money markets took a big hit. Although there is a slight recovery in the market with the decline of BTC to the levels of $ 40,500, the situation is still far from the desired level. While discussing whether China is serious about the ban on cryptocurrencies after this decision, US Senator Patrick Joseph Toomey Jr. commented on the possible outcome of this ban for the United States.
China’s authoritarian crackdown on crypto, including #Bitcoin, is a big opportunity for the US It’s also a reminder of our huge structural advantage over China.
— Senator Pat Toomey (@SenToomey) September 24, 2021
“China’s authoritarian crackdown on cryptos (including Bitcoin) is a huge opportunity for the US. It is also a reminder that we are structurally superior to China.”
Morgan Creek Digital co-founder Anthony “Pomp” Pompliano supported the senator’s opinion and thanked him for sharing it. The Senator also added that economic freedom would result in a higher standard of living for all.