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Republican representatives in American politics took up the defense of cryptocurrencies as a tool for financial freedom after Canadian Prime Minister Justin Trudeau invoked extraordinary Emergency Act powers to go after Freedom Convoy organizers, their vehicles, bank accounts, and digital assets.
Ohio’s representative to Congress, Warren Davidson, introduced a bill called the Keep Your Coins Act, aimed at preventing federal agencies from “restricting a person’s use of convertible virtual currencies to purchase goods or services for his or her own use and for other purposes.”
“It’s vital that we preserve the attributes of cash transactions by protecting the permissionless nature of cash,” Davidson said when introducing the bill. “No third party should be required for two people (or companies) to use money as a means of exchange, store of value, and record of account.”
But Davidson is not the only Republican in Congress to react to Trudeau’s move against digital assets for truckers. While speaking at the Conservative Political Action Conference (CPAC) 2022, Texas Senator Ted Cruz attacked the Canadian ruler and expressed his support for the free transfer of cryptocurrencies.
“One of the reasons I’m bullish on Bitcoin is because it’s decentralized,” Cruz said before going against Trudeau’s move. He later continued, “That’s also why China recently banned Bitcoin: because they can’t control it, which is the same reason Elizabeth Warren hates Bitcoin.”
Separately, U.S. Congressman and co-chair of the House Blockchain Caucus Tom Emmer (R-MN) also went after Trudeau for his attack on truckers’ assets, saying that “freedom is what’s at stake” when the federal government seeks to “control your movements.”
Emmer also recently participated in a podcast dedicated to cryptocurrencies, called Bankless, to discuss the need to keep the market for digital assets free from central government control. Emmer told the podcast hosts that Bitcoin “is the future.”
The congressman also said that understanding of cryptocurrencies in Washington “is growing” among Republicans and Democrats, and that resistance to their implementation is due to “fear” of the unknown.