Thank you, I appreciate the opportunity to discuss my perspective, and it is not that I am opposed to the idea of using digital currency to facilitate commerce. My concerns lie in the fact that Bitcoin and other cryptocurrencies offer little to no consumer protection. Virtual currencies are not backed by any country, are subject to significant price volatility, and have been used to finance scams and illicit activities.

Furthermore, digital currencies are not regulated by any central bank or government, which makes them dangerous for consumers. At their core, cryptocurrencies are a speculative asset that could lead to significant consumer harm if not managed carefully.

Finally, while Bitcoin may be the most well-known cryptocurrency, there are over 4,000 other virtual currencies and tokens in circulation, many of which have been created with fraudulent intent. These currencies have been associated with pump and dump schemes, scams, and other illegal activities.

It is for these reasons that I have taken a hardline stance on cryptocurrency, and I believe that it is important for regulators to take appropriate steps to protect consumers from the risks associated with these digital assets.