Ted Cruz: The developments in Canada show that nobody can control Bitcoin and crypto
US Senator Ted Cruz expressed his optimism about Bitcoin at the Conservative Political Action Conference (CPAC) on Thursday (February 25). CPAC is “the largest and most influential gathering of conservatives in the world”.
In his speech at the event, Ted Cruz said:
“One of the reasons I’m so bullish on crypto, on bitcoin, is that it’s decentralized and untraceable.
Let me give you a great example. Prime Minister of Canada Justin Trudeau says he doesn’t like some truckers and will therefore freeze their assets. The court then attempted to freeze the cryptocurrency given to truck drivers.”
The senator went on to read a letter from a bitcoin wallet company called Nunchuck that was addressed to the Ontario Supreme Court Justice. The company received a court order on February 18 to freeze and release information about assets related to the Freedom Convoy movement.
In the letter to the court, Nunchuck explained that it was a “self-regulating bitcoin wallet.” It was “a software provider, not a custodian financial intermediary”.
“We cannot ‘freeze’ user assets. We can’t stop them from moving. We do not monitor “presence, character, value and location” of user assets. This is an existing design.”
The letter ends with the company asking the court, “Please look at how private keys and self-custody keys work.”
As he put the letter down, Cruz exclaimed, “It’s spectacular.”
Then the senator said about control:
“China recently banned bitcoin because they can’t control it, that’s why Elizabeth Warren hates bitcoin.
Both the Chinese Communists and Senator Elizabeth Warren want control of you, your property, your savings, your words, your life, your children – every decision – they want control, and therefore it is necessary to dismantle the means of controlling citizenship “.
Cruz is a bitcoin holder. In February, he claimed to have bought between $15,001 and $50,000 in bitcoin.
Warren has repeatedly criticized Bitcoin, citing environmental issues and investor protection. She has urged the US Securities and Exchange Commission (SEC) to use “full discretion” in regulating cryptocurrency trading.
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