Skip to content
Herald Sheets

Herald Sheets

Live Cryptocurrency News

Follow Herald Sheets on Twitter, Facebook, Telegram, Please Read Our Disclaimer

  • Homepage
  • Start Trading
  • Guide
  • Crypto News
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Ripple (XRP)
    • Dogecoin (DOGE)
    • Cardano (ADA)
    • Litecoin (LTC)
  • Analysis
  • Blockchain
  • Mining
  • Reviews
    • Brokers
    • Exchanges
  • Regulation
  • Press Release
  • About Us
    • Contact Us
    • Privacy Policy
    • Submit Press Release
  • Disclaimer
  • Bitcoin (BTC)
  • Blockchain
  • Cryptocurrency
  • News
  • Regulation

United States Congressman Says Courts Should Have The Permission Of Reversing Cryptocurrency Transactions

Nathan Ferguson July 8, 2021 3 min read

Many would agree that cryptocurrencies and blockchain technologies, when utilized properly and ethically, can serve to be of great benefit to potential investors and, at times, entire countries. However, not everyone wishes to use this new and innovative technology for the betterment of mankind, as these individuals instead choose to abuse what has been provided to them in an effort to conduct cyber-attacks, scams, and other various fraudulent transactions, which has resulted in massive losses of millions upon millions of dollars to date.

It is with this glaring socio-economic issue in mind that Bill Foster, a United States Congressman, recently stated that cryptocurrency users must be unmasked, and anonymity must be done away with if the aforementioned fraudulent transactions are to be fully exposed and prevented.


trade now

More power should be given to the judiciary, according to Bill Foster

Bill Foster is also the co-chair of the country’s Congressional Blockchain Caucus, and he has now stated that the judiciary must possess the capability and authority to expose any crypto user and de-anonymize potential suspects who may be involved in illegal or otherwise illicit activities. This, he added, is the best and perhaps only way through which erroneous and fraudulent transactions can be prevented from taking place and potentially reversed if the situation calls for such an action.

Simply put, the congressman believes that cryptocurrency users should be viable to go to court in a way that is both open and without any anonymous aspects, as certain individuals may need to be unmasked in scenarios where someone may have to testify for example. Furthermore, Bill claims that by potentially unmasking various cryptocurrency users as well as being able to reverse different transactions which may have been carried out utilizing crypto, the U.S government and its citizens will have a much higher chance of being protected from ransomware and other cyber-related attacks in the future.

Not everyone is on board

Unsurprisingly, most of the crypto community remains unsupportive of this new initiative put forth by the congressman, primarily because it does not consider the sole reason as to why the crypto industry exists, to begin with. The whole point of crypto-based investments is so that individuals can effectively bypass the rules and regulations of various financial institutions and take back both the power and control regarding digital assets.

Caitlin Long had thus stated that there is clearly a need for some more work to be done in D.C regarding the crypto industry, and Preston Pysh (a prominent podcaster) called the congressman’s words ‘completely clueless.’

Trade Now

HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us easily with Herald Sheets Facebook Messenger App. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

Continue Reading

Previous: Binance BTC Futures Surge Despite Regulatory Storm  
Next: Central Bankers in Some Countries Showed Their Interest In Crypto Trading

Related Stories

Evaluating the Possibilities of Tron (TRX) Unleashing Its Volatility
2 min read
  • Bitcoin (BTC)
  • Cryptocurrency
  • News
  • Price Analysis
  • Tron (TRX)

Evaluating the Possibilities of Tron (TRX) Unleashing Its Volatility

August 14, 2022
What is a Bear Trap in Trading and How Does It Work?
11 min read
  • Crypto Trading
  • Guide
  • News

What is a Bear Trap in Trading and How Does It Work?

August 13, 2022
Bitcoin (BTC): What to Expect in Upcoming Months Following Present Developments
3 min read
  • Bitcoin (BTC)
  • Cryptocurrency
  • News
  • Price Analysis

Bitcoin (BTC): What to Expect in Upcoming Months Following Present Developments

August 13, 2022

Top 10 Crypto

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$24,542.00
0.01%
ethereum
Ethereum (ETH)
$1,984.30
-0.21%
tether
Tether (USDT)
$1.00
-0.03%
usd-coin
USD Coin (USDC)
$1.00
-0.10%
binancecoin
BNB (BNB)
$323.59
-1.67%
cardano
Cardano (ADA)
$0.58
2.29%
ripple
XRP (XRP)
$0.383170
0.20%
Binance USD
Binance USD (BUSD)
$1.00
0.00%
polkadot
Polkadot (DOT)
$9.17
-3.54%
dogecoin
Dogecoin (DOGE)
$0.078166
6.17%

Recent Posts

  • Evaluating the Possibilities of Tron (TRX) Unleashing Its Volatility
  • What is a Bear Trap in Trading and How Does It Work?
  • FxCapital360 Review – Is FxCapital360 Scam or a Proper Broker?
  • Bitcoin (BTC): What to Expect in Upcoming Months Following Present Developments
  • All You Need To Know About Virtual Asset Service Provider (VASP)
  • Animoca Co-Founder Says Web3 Requires More Developers For A True Decentralized Environment
  • Nvidia Launches New Developer Tools To Up Its Metaverse Bet
  • Velocity Trade Review – Is Velocity Trade Scam or a Proper Broker?
  • Assessing Reasons Behind Polygon’s (MATIC) Recent Price Uptick
  • Blockchain vs. Database: How Do They Differ?
  • Paper Wallets: How To Secure Your Crypto Assets
  • New Report Says Nigeria Has Become the Most Crypto-obsessed Country
  • Institutional Demand for BTC Is Insatiable, Says Kevin O’Leary
  • Money-Laundering And Wash Trading In NFTs – All You Need To Know
  • Alfabtc Review – Is Alfabtc Scam or a Proper Broker?

Categories

You may have missed

Evaluating the Possibilities of Tron (TRX) Unleashing Its Volatility
2 min read
  • Bitcoin (BTC)
  • Cryptocurrency
  • News
  • Price Analysis
  • Tron (TRX)

Evaluating the Possibilities of Tron (TRX) Unleashing Its Volatility

August 14, 2022
What is a Bear Trap in Trading and How Does It Work?
11 min read
  • Crypto Trading
  • Guide
  • News

What is a Bear Trap in Trading and How Does It Work?

August 13, 2022
FxCapital360 Review – Is FxCapital360 Scam or a Proper Broker?
4 min read
  • Cryptocurrency Brokers News and Reviews

FxCapital360 Review – Is FxCapital360 Scam or a Proper Broker?

August 13, 2022
Bitcoin (BTC): What to Expect in Upcoming Months Following Present Developments
3 min read
  • Bitcoin (BTC)
  • Cryptocurrency
  • News
  • Price Analysis

Bitcoin (BTC): What to Expect in Upcoming Months Following Present Developments

August 13, 2022
Copyright © All rights reserved. | DarkNews by AF themes.
  • RelevantRelevant(REL)$0.825.35%
  • TadpoleTadpole(TAD)$7.32-1.74%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184213-2.11%
  • SakeTokenSakeToken(SAKE)$0.0127135.28%
  • WTF TokenWTF Token(WTF)$0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)$0.005461-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%