5 months ago
27 ARTICLE AD
The Senator advocates Bitcoin for cost savings on everyday purchases.
Processing fees for credit card transactions are on the rise. In this context, Bitcoin provides an alternative payment method that does not incur these swipe fees, said US Senator Marsha Blackburn during a firechat at the 2024 Bitcoin Policy Summit this week.
“One of the hot issues on Capital Hill right now is increasing the processing fees for credit cards. And people are beginning to look at how expensive it is to use credit cards. So this [Bitcoin] provides them another option where they’re not burdened with having to pay that swipe fee,” said the Senator.
The Tennessee lawmaker, known for her commitment to consumer rights and privacy, pointed out that Bitcoin could help consumers save on extra charges for everyday transactions such as rent, mortgage, or car payments.
“In favor of the consumer…this [Bitcoin] I think is a really good solid option,” she noted.
Blackburn also expressed her belief that Bitcoin’s acceptance for daily purchases will grow as the public becomes more familiar with the digital currency.
Ease of use is only one of the things that “appeal” the Senator about Bitcoin. Two key aspects of Bitcoin, which she sees as advantages, are freedom and privacy for individuals – Bitcoin allows individuals to control their finances with less oversight.
“First of all, when you talk about freedom and you talk about privacy, Bitcoin allows that for individuals,” Blackburn remarked.
She also praised Bitcoin’s decentralized nature, which operates without government interference, a feature she believes is crucial for many people.
Using Afghanistan as an example, Blackburn explained that in regions where trust in governments and fiat currencies is low, Bitcoin stands out as a reliable store of value.
“They want something that is going to be a good solid store of value. This is a great option for them,” she added. “People want to be able to have that control over the use of their currency.”
Sharing Senator Blackburn’s viewpoint, US presidential candidate Robert F. Kennedy Jr. has recognized Bitcoin as a means to combat government overreach and financial control. He has pledged to address the tax treatment of Bitcoin to facilitate its use in everyday transactions without the burden of taxation.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
