U.S. Presidential Candidate Rick Perry Supports ‘Breathing Room’ for Bitcoin

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by Polina Chernykh · 3 min read
U.S. Presidential Candidate Rick Perry Supports ‘Breathing Room’ for Bitcoin
Photo: Morning Joe/Flickr

US presidential hopeful Rick Perry revealed his support for virtual currency while giving an interview to The New York Observer.

U.S. presidential candidate Rick Perry said in an interview to The New York Observer that he is in support of “regulatory breathing room” for cryptocurrencies. The comments suggest that if Perry would make it to the White House, he would help the bitcoin industry to grow further.

Speaking on the US economy, former Texas governor Perry predicted the country is likely to face a next economic collapse soon. While blaming Wall Street and policy makers for the country’s economic situation, he added that Wall Street should be kept under control and be punished for their bad behavior.

“Distrust with Wall Street and with Washington is probably greater than at any time in our history. Wall Street should not be left off the hook for their bad behavior … instead of them being punished, it was the average American who paid the tremendous price. The fact of the matter is, to be quite frank: we got screwed,” Perry said at a Midtown luncheon for the Committee to Unleash Economic Prosperity.

Perry also mentioned government-backed mortgage lenders Freddie Mac and Fannie Mae, who influenced the process of turning capitalism into “corporatism” by pushing loans on borrowers who lacked the funds to afford a home.

“I’m tired of politicians bashing Wall Street while ignoring the sins of Washington, D.C. It was Washington regulators who fell asleep at the switch,” he said.

He also spoke about “Warrenism,” the brand of politics represented by Elizabeth Warren, a Senator for Massachusetts, who has incentivized Democrats to be tougher on big banks.

Another Republican presidential candidate Rand Paul is also known for his support for digital currency. In spring, the libertarian senator from Kentucky announced that he would accept bitcoin donations for his campaign, thus becoming the first presidential candidate to receive donations in virtual money. This will help the backers of bitcoin to understand that the Republican Party is open to the adoption of digital currency.

In May, Paul announced via Twitter that the known supporter of bitcoin and CEO of Overstock, Patrick Byrne, will take part in the senator’s presidential campaign.

Perry announced his candidacy for the Republican presidential elections in June, after he dropped US presidential bid. Previously, within three terms he worked as a governor of the Texas state, which has been less restrictive regarding bitcoin regulation. Still, before participating in presidential contest Perry will have to win primaries.

Although bitcoin adoption is growing in the US, some states intend to impose stricter control over digital currencies. Such legislations as BitLicense can slow down the widespread adoption of bitcoin.

Bitcoin News, Cryptocurrency News, News
Polina Chernykh

Polina is an undergraduate student at Belarusian State Economic University (BSEU) where she is studying at the faculty of International Business Communication for a degree specializing in Intercultural Communication. In her spare time she enjoys drawing, music and travelling.

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