{"id":1027529,"date":"2021-11-18T13:13:38","date_gmt":"2021-11-18T18:13:38","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1027529"},"modified":"2021-11-18T13:13:41","modified_gmt":"2021-11-18T18:13:41","slug":"biden-nominee-saule-omarova-worries-bitcoin-might-undermine-national-security","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-nominee-saule-omarova-worries-bitcoin-might-undermine-national-security\/","title":{"rendered":"Biden Nominee Saule Omarova Worries Bitcoin Might Undermine National Security"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-nominee-saule-omarova-worries-bitcoin-might-undermine-national-security%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1027529&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p class=\"subheading\">Saule Omarova, President Joe Biden\u2019s Comptroller of the Currency nominee, claimed Thursday bitcoin and digital currencies might undermine national security.<\/p>\n<p>Sen. Cynthia Lummis (R-WY), a pro-cryptocurrency lawmaker, asked Omarova during her Senate Banking Committee nomination hearing if she believed if bitcoin and other digital currencies undermined national security.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>Omarova said she worries that digital currencies undermine public policies, including national security.<\/p>\n<p>Lummis asked Omarova, \u201cDo you think that bitcoin undermines national security?\u201d<\/p>\n<div id=\"attachment_18810594\" class=\"wp-caption alignnone\" readability=\"37\"><a href=\"https:\/\/media.breitbart.com\/media\/2021\/11\/GettyImages-1354042911.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-18810594\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/11\/GettyImages-1354042911-1024x683-1.jpg\" alt width=\"990\" height=\"660\" \/><\/a><\/p>\n<p class=\"wp-caption-text\"><em>Sen. Jack Reed (D-RI) speaks during Dr. Saule Omarova\u2019s nomination hearing to be the Comptroller of the Currency with the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill on November 18, 2021 in Washington, DC. (Anna Moneymaker\/Getty Images)<\/em><\/p>\n<\/div>\n<p>Omarova said, \u201cI would worry if all of our financial transactions were up to some blockchain system, where you know various actors might actually be located in other countries not particularly friendly to us, control the functioning of that system.\u201d<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>Despite Omarova\u2019s concerns, the United States is the number one miner of bitcoin in the world, meaning there is little to worry about other countries or private actors manipulating bitcoin.<\/p>\n<p>America <a href=\"https:\/\/www.cnbc.com\/2021\/10\/13\/us-beats-china-as-the-number-one-destination-for-bitcoin-miners.html\">became<\/a> the top destination for bitcoin miners after China cracked down on cryptocurrency mining this year.<\/p>\n<p>In fact, resource-rich and low-energy price states such as Texas, Washington, and other states have become a mecca for bitcoin mining.<\/p>\n<p>\u201cThe whole narrative of China controls bitcoin is now completely destroyed,\u201d Boaz Sobrado, a London-based financial data analyst, said.<\/p>\n<p>Omarova could seek to heavily regulate the digital currency industry as exhibited by her academic writings.<\/p>\n<figure id=\"M-ROS-B3\" class=\"a8d adSo\"><\/figure>\n<p>The OCC charters, regulates, and supervises all national banks, and she could unwind the charter approvals for cryptocurrency companies such as Protego, Paxos, and Anchorage.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\" readability=\"11.149635036496\">\n<p lang=\"en\" dir=\"ltr\">Saule Omarova, President Joe Biden\u2019s pick as Comptroller of the Currency, previously authored a thesis on Marxism, the only copy of which has reportedly been destroyed by Moscow State University. <a href=\"https:\/\/t.co\/kn7bgpx5bJ\">https:\/\/t.co\/kn7bgpx5bJ<\/a><\/p>\n<p>\u2014 Breitbart News (@BreitbartNews) <a href=\"https:\/\/twitter.com\/BreitbartNews\/status\/1451758461159714821?ref_src=twsrc%5Etfw\">October 23, 2021<\/a><\/p>\n<\/blockquote>\n<p>She <a class=\"x5l\" href=\"https:\/\/www.breitbart.com\/politics\/2021\/11\/09\/biden-banking-nominee-would-have-most-powerful-least-accountable-position-over-cryptocurrencies-banking\/\" target=\"_blank\" rel=\"noopener external\">wrote<\/a> in \u201cTechnology v. Technology: Fintech as a Regulatory Challenge\u201d that the \u201croot of the problem\u201d in the \u201cmassive digitization of finance\u201d is the \u201ccritical shift in the \u2026 balance of power in the financial system\u201d away from government control.<\/p>\n<p>A former senior government official told Breitbart News, the \u201cpolitical left doesn\u2019t like crypto, because right now the left is all about command and control, they want to control your thinking, they want to control your spending, etc. And, crypto doesn\u2019t allow that because there is no person.<\/p>\n<p>The former senior government official said, \u201cIt\u2019s a decentralized network for peer-to-peer exchange where nobody can tell you what to spend your money on. That\u2019s a problem. If you believe in controlling people.\u201d<\/p>\n<p><strong><i>Sean Moran is a congressional reporter for Breitbart News. Follow him on Twitter&nbsp;<\/i><a href=\"https:\/\/twitter.com\/SeanMoran3\"><i>@SeanMoran3<\/i><\/a><i>.<\/i><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saule Omarova, President Joe Biden\u2019s Comptroller of the Currency nominee, claimed Thursday bitcoin and digital currencies might undermine national security. Sen. Cynthia Lummis (R-WY), a pro-cryptocurrency lawmaker, asked Omarova during &#8230;<\/p>\n","protected":false},"author":38,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1027529","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1027529","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1027529"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1027529\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1027529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1027529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1027529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}