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BITCOIN IS A MATTER OF NATIONAL SECURITY — DEPUTY CIA DIRECTOR
Deputy CIA director Michael Ellis’ comments reflect Bitcoin’s maturation as an asset but conflict with the cypherpunk philosophy.
The US Central Intelligence Agency is increasingly incorporating Bitcoin as a tool in its operations, and working with the cryptocurrency is a matter of national security, Michael Ellis, the agency’s deputy director, told podcast host Anthony Pompliano.
In an appearance on the market analyst and investor’s show, Ellis told Pompliano that the intelligence agency works with law enforcement to track BTC, and it is a point of data collection in counter-intelligence operations. Ellis added:
“Bitcoin is here to stay — cryptocurrency is here to stay. As you know, more and more institutions are adopting it, and I think that is a great trend. One that this administration has obviously been leaning forward into.”
“It’s another area of competition where we need to ensure the United States is well-positioned against China and other adversaries,” Ellis said.
Although Ellis’s comments point to Bitcoin maturing as an asset, they also reflect the increased involvement of governments and institutions, which runs contrary to the libertarian and cypherpunk ethos originally inherent in crypto.
Bitcoin: from cypherpunk experiment to state reserve asset
US President Donald Trump signed an executive order establishing a Bitcoin Strategic Reserve on March 7, to mixed reactions from the Bitcoin community.
Bitcoin Magazine CEO David Bailey celebrated the move, while Venice AI founder and BTC advocate Erik Vorhees warned against government ownership of Bitcoin but added that if the US government is to adopt any crypto reserve, it should be Bitcoin-only.
Concerns that cryptocurrencies have lost their cypherpunk roots predate the current market cycle and any strategic reserve legislation or comprehensive regulatory frameworks for digital assets.
In March 2020, Therese Chambers, the former director of retail and regulatory investigations at the UK’s Financial Conduct Authority (FCA), argued that cryptocurrencies had become increasingly financialized and institutionalized.
Chambers added that digital assets were behaving far more like traditional financial instruments than the privacy-preserving tools they were initially billed as.
@ Newshounds News™
Source: CoinTelegraph
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CAPITOL CRYPTO: CONGRESSMAN PROPOSES BITCOIN ATMS IN GOVERNMENT FACILITIES
A Texas Republican congressman has proposed installing cryptocurrency ATMs in United States federal buildings. Rep. Lance Gooden wrote a May 1 letter to Stephen Ehikian, who is presently acting administrator for the General Services Administration (GSA), news reports said.
Trump Ally Frames Proposal As “Educational Resource”
Gooden, one of the president’s well-known Republican allies, recommended in his letter that installing crypto ATMs in government buildings would be an “educational resource” for the public.
He requested that the GSA start exploring guidelines and regulations necessary for installing such machines on federally owned properties across the country.
Public documents filed with the House of Representatives indicate Gooden has not declared any cryptocurrency investment or ATM firms since being elected in 2019. There are no reported financial disclosures in public records available for the Texas representative as of 2025.
Authority Questions Unanswered
The GSA regulates and manages government-owned properties. Although its website states that it can offer space for federal credit union ATMs, it is not certain if Ehikian can extend these regulations to digital asset ATMs provided by private companies.
Reports suggest Ehikian, who was sworn in by US President Donald Trump, may not have a mandate to introduce these types of ATMs without consent from Congress. Reports also disclose that the finances for such an endeavor may demand an act of Congress.
President’s Crypto Connections Raise Questions
Meanwhile, Trump has extensive engagement with digital coins and asset firms across multiple avenues. These range from his individual investments, presidential campaign accounts, family-backed enterprises, and the TRUMP meme coin.
Trump reportedly hosted a dinner in Washington, DC in April for the leading holders of his meme coin. This link creates questions regarding potential policy influences related to cryptocurrency infrastructure in government buildings.
Senate Considers Tougher Crypto ATM Regulations
Gooden’s bill comes as legislators in the Senate are considering bills to combat fraud using digital currency ATMs. Last February, Illinois Senator Dick Durbin introduced the Crypto ATM Fraud Prevention Act with the goal of establishing “common sense guardrails” against scams that have hurt many elderly Americans.
The timing provides a telling contrast between Gooden’s initiative to expand access to crypto technology and Durbin’s push for more protection from possible abuse of the same systems.
This brings to the fore the debate surrounding how to achieve a balance between innovation and consumer protection in the world of cryptocurrencies.
@ Newshounds News™
Source: Bitcoinist
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