US Presidential Candidate Rick Perry Supports Regulatory Breathing Room for Cryptocurrencies

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US Presidential Candidate Rick Perry Supports Regulatory Breathing Room for Cryptocurrencies

US presidential candidate Rick Perry though warns for the next economic crisis if Wall Street is not kept under control and reprimanded for the bad behavior has also suggested that the policy makers should give breathing room for cryptocurrencies like Bitcoin. Nonetheless, this is being considered a vital support for the blockchain technology.

In an interview to The New York Observer, Rick Perry said that he supports “regulatory breathing room” for digital currencies such as Bitcoin. The presidential candidate also elaborated on issues that could form the core of his fiscal policy. If he has such a progressive view on Bitcoin, it is expected that if he becomes POTUS, cryptocurrencies won’t be hounded.

Perry roundly denounced perceived issues in the financial system and admitted that Wall Street should not be left off the hook for their bad behavior; rather, according to him they should be punished. He is of the view that it was the average American who paid the tremendous price and the fact of the matter is, to be quite frank, everyone got screwed.

Looks like Republican candidates have penchant for the Bitcoin, the latest addition is Rick Perry who is following fellow Republican presidential hopeful Rand Paul. If someone who has put Bitcoin into the political map of the US, it is Rand Paul who openly supports the digital currency and even accepts Bitcoin donations.

ForexMinute has reported about the decision by Paul in April this year that he would accept Bitcoin for campaign donations. It appears Perry is late in jumping on to Bitcoin bandwagon; however, his support for the digital currencies will further help the supporters understand that Republican Party is quite open towards the acceptance.

Republican Party Seems to Have the Most Pro-Bitcoin Stand

Rick Perry announced his candidacy in June following a failed bid for the Republican nomination in 2012. However, the 65-year-old Republican candidate, who previously served three terms as governor of Texas, a state that has long been less restrictive in its approach to digital currency regulation, will have to win primaries to finally go for the actual presidential contest.

Though Bitcoin is extremely popular in the US, the digital currency is facing a tough challenge as some states in the country are asking for regulations which itself is against the fundamental principle of Bitcoin technology. Legislations like BitLicense in NY can hamper the growth of the digital currency economy; in such a situation support from Rick Perry is being welcomed.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com