US Minister of Trade, Howard Lutnick, said that the American government is ready to accept bitcoin, so it will implement bold initiatives for the development of crypto industry in the country.
Lutnik said that now the authorities are working on initiatives that allow miners to build private power plants and data centers (data centers) near natural gas fields. The exhaust gas can be used to obtain energy, which will be used for cryptocurrency extraction. This should reduce the dependence of miners on traditional electric networks and increase the energy efficiency of the regions. It will be easier for mining companies to get work permits, but they should understand what requirements they need to observe so that their activities do not violate the law.
The Minister of Trade also said that bitcoin is a product, not a currency. He hinted that soon Bitcoin could be integrated into the official statistics of the Bureau on Economic Affairs. This will further strengthen the position of the first cryptocurrency in the reports of GDP and Trade.
“America is ready to welcome bitcoin with open arms. The economic significance of bitcoin is undeniable. The time has come to treat him accordingly, ”said Lutnik.
He made it clear that US President Donald Trump adheres to a completely different approach to cryptocurrencies, unlike former President Joe Biden. Under Biden, the US authorities were hostile to cryptocurrency business, which the current administration would not allow. According to Lutnik, “when America accepts something, she no longer turns back.”
At the beginning of the year, Lutnik called on the issuers of stabilcoins tied to the dollar to go through an obligatory audit to prevent the use of tokens for criminal purposes. According to his forecast, American banks will begin to store bitcoins along with dollars in five years.
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Source: Cryptocurrency
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