Samson Mow: US politicians' reversal of attitude in favor of cryptocurrencies may be unfavorable to Bitcoin in the long run

Odaily Odaily News Jan3 CEO Samson Mow expressed doubts about the growing support for digital assets among US politicians. Mow warned that this temporary change in attitude by politicians could cause problems in the future if the basic characteristics of Bitcoin and other cryptocurrencies are confused. One of Mow's biggest concerns is that many politicians fail to distinguish between Bitcoin and other cryptocurrencies. He emphasized that Bitcoin is decentralized, permissionless and censorship-resistant, and unlike many other digital currency projects, they may have different characteristics and risks. Mow emphasized the importance of developing exclusive regulatory provisions for Bitcoin to recognize its unique properties and potential benefits. He believes that treating Bitcoin like other cryptocurrencies could stifle innovation and hinder the development of this transformative technology. However, Mow also acknowledged the positive impacts on the Bitcoin field, such as the increasing support of some policymakers for Bitcoin and the increasing adoption of Bitcoin by institutional investors. However, he warned that challenges are still ahead, especially in terms of regulatory transparency and consumer protection. (Bitcoinist)