US Senator: “Crypto can be Legitimized by Regulations”

While US Senator Jon Tester argues that cryptocurrencies should not exist, he also says that they can be made legal.

Massachusetts Senator Elizabeth Warren, known as one of the harshest crypto critics on Capitol Hill, recently wrote in the Wall Street Journal that she argued that cryptocurrencies could bring the entire economy down without proper oversight. Warren compared buying Bitcoin last year to buying air. Although Montana senator Tester makes similar statements, he says that with regulations, crypto money can become legitimate.

Senator Jon Tester appeared on NBC’s “Meet the Press” on Sunday, arguing that cryptocurrencies should not exist. Speaking to moderator Chuck Todd, Tester said, “I’m not a editing financier, but I see no reason for this kind of thing to exist.”

Claiming that the value of the crypto money market comes from the air, Tester opposes the regulation of cryptocurrencies, unlike other opponents. The Montana senator thinks regulations may actually legitimize cryptocurrencies. Senator Jon Tester had this to say about cryptocurrency regulations:

“If we edit that out, it can give people the ability to think it’s real.”