Libertarian Ron Paul: Legalize Bitcoin and Abolish the IRS

In letter

  • The former presidential candidate and libertarian spoke about Bitcoin on a podcast today.
  • The former Libertarian Party congressman said he was interested in cryptocurrency.
  • He said the government should just legalize it and leave it alone.

Former presidential candidate and libertarian Ron Paul believes this is the best way to deal with it Bitcoin is to legalize it.

The ex-Libertarian Party Congressman for Texas said at the today Stephan Livera Podcast that he is interested in them Cryptocurrency because it is “not a creature of the government” – but he added that the government was “watching the asset very closely”.

The legal status of Bitcoin in the US depends on various state laws, rules and regulations related to cryptocurrency that are constantly changing.

Ron Paul wants to make Bitcoin legal. “I thought the most important thing is that we do everything we can to make it legal,” he said. “I wanted to make it legal from the start.”

“Let people make their choice,” he added.

In the US, a number of states – like New York – have strict regulations on cryptocurrencies. But most of them haven’t passed cryptocurrency laws yet.

Ron Paul argued on the show not to even tax the asset – but that’s not surprising considering the libertarian is generally against taxes.

“I don’t even believe in the IRS,” he boasted, adding that until 1975 it was illegal to own gold – something he doesn’t want to happen to Bitcoin.

“That’s why I got into politics, and that’s why I remained the skeptic,” he said.

“The perfect system is freedom of choice, then you and I can decide exactly what to use as our monetary system.”

It doesn’t look like it Bitcoin is blocked in the USA anytime soon, but one thing is certain: regulation is coming.