Stopping crypto is like stopping e-commerce in 1995, Mark Cuban says

Before the $1 trillion dollar bill was passed in the Senate, billionaire crypto advocate Mark Cuban shared his insights on The Washington Post. 

He said that the attempts to stifle or directly prevent the rapid growth of cryptocurrencies can be likened to the previous attempts to stop e-commerce in 1995. 

Cuban said that at that time, almost everybody was afraid of credit card fraud, and even the creation of websites doesn’t even make any sense to some people.

Fast forward today, e-commerce and websites are as normal as the air we breathe; it has already been part of people’s everyday lives. 

Crypto becoming a real utility 

Mark Cuban, aside from being one of today’s iconic billionaires, is also widely known as an advocate of bitcoin and decentralized finance as a whole. 

And as the owner of Dallas Mavericks, it is not surprising that he also infused his crypto passion into the team by equipping them with cryptocurrency capabilities. 

Now, the team has jumped into the crypto bandwagon by accepting bitcoin (BTC), dogecoin (DOGE), and ethereum (ETH), not only for ticket payments but also for merchandise items. 

Cuban said that cryptocurrencies are fast reaching the utility level, and added that this progress will reach a point where everybody would wonder how the world survived without cryptos. 

$1 trillion infra bill 

At a vote of 69-30, the Senate had elevated the controversial $1 trillion bill into law which, aside from focusing on funding infrastructures, is also expected to drastically affect the crypto industry. 

Included in the newly passed law are tighter regulations for crypto-related businesses and expanding requirements for cryptocurrency brokers. 

The law also mandates that any digital transactions that exceed $10,000 must be reported to the Internal Service Revenue. 

Image courtesy of Cointelegraph News/YouTube

Source: https://bitcoinerx.com/blockchain/stopping-crypto-is-like-stopping-e-commerce-in-1995-mark-cuban-says/