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Bitcoin [BTC] and other alternative currencies should be exempted from all taxes says former Presidential candidate




Bitcoin [BTC] and other alternative currencies should be exempted from all taxes says former Presidential candidate and ex-Congressmen
Source: Unsplash

The exchange of comments between the Federal Reserve Bank and the President regarding the hike in the interest rates and have been going on for a while now.

Most of the people have opposed the recent increase in the interest rates by Feds and their plan to increase it two times in the upcoming year. Ron Paul is among the people who are against the decisions by the Feds. He voiced his concern on Twitter with his book titled “End the Fed”.

A former critic of Bitcoin has come around and now supports it and is now promoting alternative currencies like cryptocurrencies and said that it could help people when the next recession hits the U.S.

Ron Paul said in a tweet:

The Fed has NO IDEA what rates should be. The Fed manipulates prices, distorts the economy, and makes decisions by looking at the “data” of a distorted economy. Central planning produces a world of economic delusions. America needs to get back to reality. End The Fed!

Apart from the above, he even conducted a hypothetical poll where he asked his users what form gift worth $10,000 they would accept if they had to hold it for 10 years.

An approximate of 100,000 people put in their opinion, and 50% of the people voted to be gifted in Bitcoin, which is a revelation on its own.

Furthermore, Paul also asked taxes to be exempted on precious metals as well. According to him, this will help mitigate or in the best-case scenario, it would fend-off the Fed-induced recession.

He stated:

“The only way to avoid crisis is to force Congress to end our monetary madness. The first steps are passing the Audit the Fed bill, allowing people to use alternative currencies, and exempting all transactions in precious metals and cryptocurrencies from capital gains taxes and other taxes.”

Rust Parker commented:

“Where the heck did, “ These United States of America”, go? Americans con by globalization and governmental control practices, don’t stop with feds, get rid off all our corrupt agencies CIA, DNI, FBI and especially MILITARY COMPLEX”

With the induction of Token Taxonomy Act, some Congressmen are trying to make way for new and advanced technologies like cryptocurrencies.

The aforementioned bill is yet to be passed, it aims at defining “digital assets” and changes the 72-year old definition of “securities”. If the bill is successfully passed, it would help and even propel the upcoming technology of digital assets/cryptocurrencies.

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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.


Baer Chain Global Developer Conference “CURVATURE NAVIGATION” was held Successfully in Korea.

Guest Author



Baer Chain Global Developer Conference “CURVATURE NAVIGATION” was held Successfully in Korea.
Source: BaerChain

During the conference, Vincent talked about the current status of the development and the future plans of Baer Chain:

  • The globalization of Million Ecology Project is going smoothly. The “Curvature Navigation” conferences will be held in Asia first, and then in Europe and finally in North America. The official launch of the mainnet will come with a grand event in North America.
  • The Baer Chain block explorer developed by supernode team Baer LA is officially launched, marking Baer Chain’s decentralized development stage;
  • All game developers teams from all over the world will continue to develop blockchain games based on Baer Chain technology. At present, dozens of games are under development and will be launched in the Baer Chain ecosystem.

On 24th May, Baer Chain “Curvature Navigation” global developers conference was successfully held in Gangnam, South Korea.

Daniel Kim, CEO of Block Patch, a well-known blockchain company in Korea, attended the conference with a special guest, Zhenying Lee, who is focusing on the legal research of the blockchain industry.

Source: Baer Chain

Vincent introduced the development of Baer Chain at the conference. When talking about the progress of the Million Ecology Project, he said:

“We have entered the stage of curvature navigation and Korea is our first stop. Next, we will continue the journey of curvature in Amsterdam, then in London. We will eventually go to North America. What I can tell you is that it will be a grand event in North America to welcome the official launch of the Baer Chain mainnet.”

Source: Baer Chain

At the conference, Vincent announced that the first version of the Baer Chain block explorer developed by the supernode team Baer LA has been launched. It is the most direct visualization approach for users to engage with the mainnet.

With the release of the block explorer, all the third-party node teams are now able to smoothly carry out the development work based on the Baer Chain technology architecture, which means that the technology development of Baer Chain has entered the decentralization and the rapid growth stage of cooperation.

At the conference, Shawn from the supernode team Baer Cali also talked about the advantages of the Baer Chain technology architecture and how they began to develop games on Baer Chain.

Vincent stated that there were more than 10 super node teams have already started their development of new games. They are working very hard to develop their games and strive to release their products on the Baer Chain as soon as possible.

In the following Q&A session, Vincent was asked by one of the participants that if BRC was affected by Million Ecology Project, and Vincent responded:

“BRC is an indicator of Baer Chain’s values. The positive trend of BRC reflects the market’s view on the development and future value of Baer Chain.”

For more information, please visit the website, or follow on Twitter.

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