Jun 02, 2021 Guest(s): Ron Paul
With Bitcoin having faced regulatory pressures in Turkey and China, investors are concerned if more investment limitations will be placed on the cryptocurrency in the U.S., especially now that the newly appointed Chair of the SEC, Gary Gensler, has announced that new regulations will be on the way.
Former Congressman Ron Paul said that Bitcoin is a form of money, and money should not be regulated.
"Right now, if you buy and sell gold, you get it taxed, they can do that. If you make a profit in Bitcoin, you read stories about people being taxed on it. You can't tax money, you don't tax it. If you bought a dollar a year ago and it went down 10%, you can't take a loss because your dollar lost value," Paul told Michelle Makori, editor-in-chief for Kitco News.