US Senator Wants To Force Merchants To Accept Cryptocurrencies

Ted Cruz, US Senator, at the CPAC event.  Source: YouTube/Reuters
Ted Cruz, US Senator, at the CPAC event. Source: YouTube/Reuters

In a proposal sent to the US Congress, Senator Ted Cruz calls for restaurants, vending machines, and other stores to accept cryptocurrencies as payment.

According to the text, the law would only be in effect in the United States Capitol complex, a place that houses several US government buildings, forcing traders to work with cryptocurrencies.

“To require the Architect of the Capitol, Secretary of the Senate, and Administrative Director of the House of Representatives to hire food service providers and vending machine providers for the Capitol Complex that accept cryptocurrencies.”

The project is controversial. After all, if there was a demand for it, merchants would already be happy to accept cryptocurrencies to attract more customers. In addition, it is an additional cost for them, whether it is training or application.

However, others might argue that this could increase the use of cryptocurrencies as a means of payment. In other words, the proposal divides opinions.

Senator is known as a strong supporter of Bitcoin

In early 2022, Ted Cruz openly defended Bitcoin for its freedom. At the time, he stated that the left hates Bitcoin because they have no control over it. Citing China as an example, a country that has banned cryptocurrencies multiple times, Cruz urged the US not to make the same mistake.

“The Chinese Communists and Elizabeth Warren (U.S. Senator) both want control over you, your assets, your savings, your speech, your life, your children.”

However, his bill that, if passed, will force traders to adopt a cryptocurrency against their will is a fine example of contradiction. El Salvador received similar criticism when the country adopted Bitcoin as legal tender.

“Managing businesses to accept a specific cryptocurrency goes against the ideals of freedom that are supposedly so important to the crypto space”commented Vitalik Buterin on the subject at the time.

Therefore, the most correct thing would be to educate the population so that they can choose the resources and technology they deserve, and also provide better experiences. After all, “throwing it down our throats” seems like the worst possible option, especially because of the connection to the freedom that Bitcoin has.

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Source: Live Coins