Investor Anthony Pompliano tweeted that he expects a president for Bitcoin in the United States. However, Twitter CEO Jack Dorsey wrote on his official account that Bitcoin does not need a president. And it is that, in the middle of a legislative battle on cryptocurrencies in Washington, calls have arisen to elect the first president of Bitcoin of the United States.
Meanwhile, cryptocurrency advocate Anthony Pompliano sparked a discussion about potential candidates who might fit the job.
For his part, one of his followers on the platform saw Jack Dorsey as the ideal candidate for the position. “Jack seems to be moving slowly but surely to that position.”
Dorsey is not interested in the presidency
However, the billionaire was quick to respond to messages claiming that Bitcoin does not need presidents. More and more Dorsey seems to be moving towards the ideals of Bitcoin.
Perhaps he had already embraced the ideals for some time, but due to his position as CEO on both Twitter and Square, he did not have the space to display those thoughts.
Now that seems to be slowly but surely changing and Dorsey is being heard more and more about Bitcoin. He previously called Bitcoin the most important project he has ever worked on in his life.
Pompliano told Dorsey that he agrees: “Bitcoin doesn’t need a president, but presidents do need Bitcoin.” A statement that many agree with.
Pompliano himself denied any plans to seek a controversial position after several followers perceived his tweet as a campaign speech.
The White House backing an unfavorable amendment to the crypto tax provision in the successful infrastructure bill. It caused many to accuse the Joe Biden administration of cracking down on cryptocurrencies. Now there is a bipartisan effort to save cryptocurrencies in Washington. As reported by U.Today, former US President Donald Trump described Bitcoin as “a scam.”
For his part, former Democratic presidential candidate Andrew Yang was the closest the industry had to a mainstream Bitcoin candidate.
Likewise, prominent cryptocurrency entrepreneur Brock Pierce also appeared on the ballot during the 2020 elections as an independent candidate. But he didn’t even get 50,000 votes.
Twitter CEO Has a ‘Workable Simplification’ for Crypto Tax Provision
It is important to note that the lack of regulations in the field of cryptocurrencies emerged once again as a critical point. When the United States government published its proposed tax provisions, as part of the Infrastructure Bill.
In this sense, Jack Dorsey He launched to talk about cryptocurrencies. Offering a ‘workable simplification’ regarding cryptocurrency tax provisions.
The Biden administration intended to pay $ 28 billion of its planned infrastructure spending, bolstering tax compliance in the loosely regulated realm of digital currency. For this reason, crypto was incorporated into a bill intended to regulate the construction of bridges and roads.
This obviously did not sit well with the crypto community and, seeing the commotion, Dorsey offered his opinion on solving this problem. While imposing rules on reporting, on US hardware and software developers, miners and those responsible for protecting crypto networks was an “impossible question” according to Dorsey. In addition, he affirmed that it will only promote development and operation outside the United States.