Since the increasing adoption of cryptocurrency globally, several nations have shown fear and uncertainty that it cannot be controlled. One of such countries is the United States which had to launch an executive order to investigate the possible effects of crypto on its economy and the US dollar.

The United States May Attempt To Curtail The Spread Of Bitcoin

As stated by Joe Rogan, a US podcaster and martial artist, Bitcoin has become a source of concern for US officials. The podcaster is skeptical that the United States government would not allow BTC to develop to the same magnitude as the internet.

The mere possibility that BTC would begin to expand in accordance with the internet concept has caused the United States government to “go insane.” Joe Rogan, the presenter of the podcast called “The Joe Rogan Experience”, shared this viewpoint on his show.

As stated by Rogan, Bitcoin has proven itself as a legitimate kind of money. He stated that;

“I think about BTC same way that I look at the internet when it was in its infancy years ago. I believe they were not expecting this kind of turn out for Bitcoin and now that it has become a genuine kind of cash, with which you can really purchase stuff, I believe the US authority is going insane.”

Rogan pointed out that Obama’s administration had previously attempted to regulate the usage of the internet, but the initiative had failed horribly owing to widespread public opposition. Now, with respect to cryptocurrencies, the United States will attempt to carry out such a plan again.

Joe Rogan Talks On CBDC Adoption By Russia And China 

As Rogan pointed out, several nations, such as China, are actively experimenting with their digital currency, e-CNY:

“CBDC is a genuine instrument that will enable the government actually to restrict what we spend our money on easily” “

Russia, China, and the United States are all looking into the potential benefits of establishing a CBDC. Meanwhile, China is leading presently as it has already begun widespread testing of its electronic Yuan in various regions within the country. In April, however, the US Secretary of Treasury, Janet Yellen, expressed skepticism about the possibility of an electronic dollar appearing in the future.

According to the chief of the United States Treasury, regulatory agencies are now investigating the implications of releasing an electronic dollar on national security, monetary policy, and international commerce. This move is to ensure that the US dollar remains the most used currency in the world and does not depreciate in value.