đš "Bitcoin Should Be Banned or Taxed" â Minneapolis Fed Sparks Controversy! đš
In a bold report, the Minneapolis Federal Reserve suggests banning or taxing Bitcoin ($BTC ) to sustain government deficits. As the U.S. national debt soars past $35.7 trillion, the Fed claims Bitcoin threatens the ability to run permanent budget deficits.
đĄ Why is Bitcoin a "Problem for Governments"?
The Fed sees Bitcoin as creating a "balanced budget trap" where governments are forced to balance their spending. They argue that taxing or banning $BTC is necessary to keep government debt as the "only risk-free security."
đ The Debt Crisis:
With a primary deficit of $1.8 trillion and rising interest costs on treasury debt (+29% this year), the pressure to control Bitcoinâs influence on global finance is mounting.
đ Expert Take:
VanEck's head of digital asset research, Matthew Sigel, says this could be the government's attempt to maintain control over the debt market, dreaming of a "legal ban" on Bitcoin to secure their dominance.
Is this the beginning of a fight between Bitcoin and government debt? Keep your eyes on how this could impact the future of crypto!
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