A Crypto Triumph?

If you’ve ever had your finger on the pulse of the crypto industry, you’ll have realised that South Dakota Governor Kristi Noem has made a bold move with regards to cryptocurrency, urging 20 states to block legislation that bans cryptocurrency use as money. In the grand tradition of ‘America; land of the free and home of the brave’ Noem made the statement that the ban was a ‘threat to our freedom’.

What’s the Big Deal?

Well, it’s not just in America that this is an issue; countries all over the world are struggling to decide what to do about cryptocurrency. Some have outright banned it, as Russia and India have, some have imposed regulations, as seen in China’s limited program, and others are still trying to figure out the best way forward for their citizens. But for a Governor to publicly stand up for the crypto cause? That’s a big deal.

Noem clearly understands the implications of legislation like this, and is determined to stand firm. She wants to ensure that this legislation is blocked as it could see cryptocurrency users facing ‘prosecution, massive fines and even jail time’.

Noem Supporters and Critics

Noem has her supporters, of course; those who believe she’s making a bold move and believe she is right to stand up against this legislation.

  • A leading crypto analyst commented – “This is an important move….Governor Noem is setting a very high bar for the rest of the country”
  • Max Kaiser of RT fame – “This is a defining moment for the crypto movement. It is about time someone of power stood up and pushed back against the regulations”

Not everyone is as pleased by her move as Noem’s critics have pointed out that making such a statement could be politically detrimental to her career.

  • Geoffery Forsythe – “I’m sure Noem means well but this is a risky move. Politically speaking of course, she could pay heavy consequences for going against the grain”
  • Immmanuel Jones – “It’s great she’s being so brave but there could be some long-term ramifications if it doesn’t go down well. Politically she might struggle”

To Stick or Not to Stick?

It’s a difficult situation for Noem. On the one hand, she could be seen as a hero for crypto-fans worldwide for going against the grain and standing up for something she believes in. But on the other hand, she risks upsetting her supporters by making a statement that could later come back to haunt her.

Time will tell if her gamble pays off, but she has certainly made a statement. After all, as everyone knows – fortune favours the brave. We hope her gamble pays off.