Categories: Cryptocurrencies

US Congressman stirs up debate over ‘gold standard’ crypto question

In the latest episode of members of Congress discussing cryptocurrency, US Representative Madison Cawthorne triggered an online debate with a query about cryptocurrency.

The North Carolina Republican fielded the question of why America does not use cryptocurrency as the new gold standard and almost immediately received the brunt of some disgruntled Twitter users.

The gold standard was abandoned by President Nixon in 1971.

On Wednesday, Josh Mandel – one of the top republican candidates for the state of Ohio – said that America must “double down” on Bitcoin. Blake Masters, a fellow republican candidate in the state of Arizona, suggested adding Bitcoin to the strategic reserves of the country.

It’s been a busy period for congress representatives on Twitter, with Rosie Rios getting dragged into debates this week for her alleged bias towards Ripple and saying crypto had found its value in speculation”.

Fasika Zelealem

Having graduated from the University of Kent last year, Fasika has entered the crypto space as a Journalist for Coin Rivet. Outside of the fascinating world of cryptocurrency, Fasika is an avid sports fan with a keen interest in football.