Dr. Ron Paul Shares Piercing Thoughts at Consensus 2019: “Get Rid of the SEC” Who ‘Commits Fraud’


As a former congressman of Texas, a staunch libertarian and cryptocurrency enthusiast, Ron Paul has played a big role in the recent Consensus 2019 meetup in New York City. The well known and loved politician shared his opinions on the future of cryptocurrencies and blockchain technology, regulation in the industry and the role of the SEC in the market.

He further spoke on his upcoming speech on the development of blockchain solutions for democracy.

Let the cryptocurrency markets decide…

Regulation in the cryptocurrency industry is taking off gradually as the governments and regulators across the world take positions on the future of digital assets.

However, Dr. Paul does not believe regulation (at least from centralized bodies) to be the solution for the industry. Addressing the issue during the Consensus event, he proposed that the markets should be left to regulate themselves. He continued saying,

“I wouldn’t have the government do anything, other than if somebody’s committing fraud….If you need regulations, the market should regulate, and they shouldn’t have any subsidies or any bailouts or anything. But if there’s corruption, the government should be involved.”

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Dr. Ron Paul at the Consensus 2019

No love for the SEC

The libertarian did not hold back on the Security Exchange Commission (SEC) when asked to pick between Valerie Szczepanik, the senior advisor of digital assets at SEC and Hester Peirce, a commissioner at the SEC. Ron is long known for his tough sentiments against the regulation body and this time he proposed the abolition of SEC altogether saying,

“Get rid of the SEC. That would be ideal.”

Although Dr. Paul was candid about his relative ignorance on distributed ledger technology, DAPNet highlighted that this tech closely aligns with libertarian and decentralized politics.

“From voting to money to budgetary transparency, the blockchain is how average Americans will seize back control from bureaucrats and special interests.”

The long fight against centralized governments and bureaucrats is set to be replaced by blockchain technology in the future according to Paul. His statement was backed by DAPNet cofounder Nick Spanos who believes the recent developments in the field of blockchain technology will “redefine the idea of power and money in politics.”

The first democracy blockchain hackathon

Being a tough critic of the Fed Reserve and other financial regulators in the U.S, Ron Paul is looking for alternative ways to govern and regulate various sections of the government. He announced the first ever hackathon that will create blockchain solutions for decentralized democracy and governance. Participants will develop decentralized democracy and governance through a “participatory government structure”.

Ron Paul will partner with DAPNet, a nonprofit organization of cryptocurrency leaders and political operatives to push for a more decentralized governance structure. Participants will use the Ethereum blockchain and smart contract technology to create the new solutions for future decentralized governments such as voting protocols, budgets and oracle development.

In a recorded interview, Paul further shows excitement while announcing the hackathon saying technology with replace the inadequate centralized systems and governments we have today. He further labelled central banks “counterfeiters” as they commit fraud by printing money. He explained saying,

“If you look at money, the total centralization of money in the Federal Reserve system, and they have legal tender law. You’re not allowed to compete. You’re not even allowed to compete with gold and silver which is in the constitution. It’s centralized in the hands of the people who print money.”

Bitcoin’s price is $44,414.71 BTC/USD exchange rate today. The real-time BTC market cap of $827.04 Billion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $16.41 Billion and live coin value change of BTC -5.80 in the last 24 hours.

Live Bitcoin (BTC) Price:

1 BTC/USD =$44,414.7089 change ~ -5.80%

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24 Hour Change

$-2,578.26

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