Posted on 07/25/2024 2:14:53 PM PDT by SeekAndFind
As Americans head to the polls this fall, their decision regarding who will lead our country will also determine the fate of crypto here in the United States, and our security, prosperity, and freedom are at stake.
This week, I will join President Trump and thousands of crypto market participants in Nashville for Bitcoin 2024, the world's largest Bitcoin conference.
This year, the conference is held in my home state at a time that is clearly the tipping point for the future of crypto technology in the U.S. This fall, the future of crypto in America is on the ballot as our nation decides who will lead the Executive and Legislative branches of our nation. The contrast between Democrat and Republican approaches to crypto is stark. The Biden Administration has repeatedly demonstrated its hostility to crypto by refusing to provide a basic regulatory framework for the industry, while simultaneously taking enforcement actions against firms for allegedly violating nonexistent rules.
This combination of legal uncertainty and brass-knuckled enforcement has pushed many crypto innovators to the brink, leaving them little choice but to move their businesses overseas.
Meanwhile, Democrats have also taken extreme measures to stifle the adoption of crypto in the traditional financial system.
Biden’s regulators have forced crypto-engaged banks like Signature Bank into receivership while imposing crypto-hostile policies like the SEC’s Staff Accounting Bulletin (SAB) 121, which makes it prohibitively expensive for financial institutions to hold customers’ crypto assets. Altogether, the Biden Administration’s record makes clear what another four years of Democrat political control would bring: more political persecution of the industry on a scale reminiscent of Obama’s Operation Chokepoint.
In contrast, Republicans have taken concrete steps to develop constructive crypto policies that exemplify the party’s longstanding commitment to the principles of innovation, free enterprise, and individual liberty. House Republicans have passed promising bills that would provide legislative clarity for crypto market structure and for U.S.-Dollar-denominated private stablecoins. Republicans in both chambers have worked together to try to overturn Biden’s most egregious policies, address concerns about illicit finance, promote private-sector innovation in stablecoins, and prevent the development of a central bank digital currency. Republican control of Congress and the White House would enable the GOP to expand and implement these efforts, finally delivering constructive rules of the road for crypto and ending Biden’s oppressive regime of regulation by enforcement.
If Republicans don’t stop Democrats from trying to crush crypto in America, the consequences could be dire.
Four more years of hostility will force even more crypto innovators offshore. Prominent U.S. exchanges have already started opening businesses in other countries, seeking licenses in foreign jurisdictions, and shuttering their U.S. operations. In recent years, lawmakers in Washington have realized how allowing another critical industry—semiconductors—to go offshore has weakened our nation’s competitive edge and geopolitical leverage. We would be foolish to allow crypto—this generation’s new cutting-edge technology—to follow the samCryptoe path. Republicans understand that keeping innovation onshore is essential for our global competitiveness and for the creation of wealth and jobs for Americans.
All too often, voters dismayed with Washington’s dysfunction feel that their vote—and national politics more broadly—does not matter. That’s not true here.
No matter how much the status quo may frustrate us, the truth is that elections offer us the best opportunity to change course and get our country’s policies back on track.
In the case of crypto, the vote at the ballot box this year could quite literally decide its fate.
This November, Americans must make their voices heard and send their elected representatives to Washington with a mandate: secure a future for crypto in America.
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Thank you very much and God bless you.
I'll stick with cash and maybe some metals.
There are a bunch of people in the Bitcoin world who would just as soon leave the politicians out of the conferences. The politicians put us in the place where bitcoin was created to offset the pure mismanagement of the government budget. They are not going to fix it.
I use Pokemon cards. :) jk
There's plenty of crime to investigate in crypto, but the SEC persistently avoids doing anything useful. Instead they attack legit crypto firms one after another, as the OP says with "nonexistent rules" or with rules they make up themselves without legislative foundation. It's a bit like getting yourself elected dogcatcher, and then defining all children under 10 to be "dogs" and then running around town kidnapping little kids and putting them in cages. It's time to put a stop to that.
I use baseball cards.
Cryptocurrency, like gold, does not create wealth, it merely stores it. It’s a wealth battery. You need engines that convert stored energy into goods and services to create wealth.
A CBDC would reduce frictional costs from check clearing and other online transactions. The dollar will never be replaced because, unlike Bitcoin, the money supply can be adjusted as the economy grows.
DECENTRALIZED crypto is fine... it’s the centralized version that allows them to control your spending
Don’t trust it. Don’t know how to get it. Don’t understand it. No place I know takes it.
I smell a fad.
Adjusted by who?
The whole point of Bitcoin is the money supply cannot be "adjusted" by criminal government.
And you may not have heard, but there is this think called "mathematics." Instead of prices recalibrating to dollars that are worth less and less over time, you have prices recalibrating to Bitcoins that are worth more and more over time.
The rise in crypto has all to do with irresponsbile monetary policy. Today democraps have made everyone debt slaves, and only a handful have seen another way. Republicans are more and more free enterprise.
As Warren Buffet says, people buy crypto currency hoping the next guy will pay more for it because it has no inherent value. Much like fiat money.
These were people I had no knowledge of, from an outfit I didn't know existed.
The email headers revealed spam account activity, so I simply decided to ignore everything. My bank accounts have been untouched.
Years ago, I thought I'd try PayPal, but it didn't work for me, so that was that. It was billed to a card that has long been closed. So as far as I am concerned, this is a non-issue.
In fact, I don't know how they got my email addy. I think I was using a different email address when I tried to join.
I'll just keep an eye on things.
That's the extent of my experience with crypto.
CA....
The battle box.
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