when casey jones pulled the lever on the garbage truck with shredder in it at the end of the first tmnt movie in the 80s and said oops man that was funny
I disagree strongly with Max on this.
I think it's far funnier.
I think IL *did*, in fact, just subject all bank transfers (incl. moving your own money between a checking and savings account), securities transactions, and more to a 0.2% tax.
The language is: “Digital asset” means a digital representation of value that is used as a medium of exchange, unit of account, or store of value, and that is not fiat currency, whether or not denominated in fiat currency.
Bank deposits are not fiat, and all banking is digital. Banks are explicitly NOT issuers of US currency nor are they performing transactions in physical money. They are very definitely a digital representation of value that is used as a medium of exchange, and they are not fiat currency themselves, though they are denominated in it.
So, Max, this does capture all electronic money, because the drafters don't understand banks are private money, just like stablecoins, not literally issuers of US currency themselves.
Don't hate on Tom Lee because he's trying everything he can, hate on him because he took up stage space before Jeff at Token when Jeff could have done a full hour.
“The transition to tokenized markets is best understood through the E-ZPass tollbooth analogy.”
That's Blue Macellari, our Head of Digital Assets, in the new @Citi Tokenization 2030 report. Parallel systems run first, the road got wider with lanes for automated and legacy flows.
The key question is how quickly can we reach the automated end state?
Read more here: https://t.co/uq8CsGr800
Tokenization does not mean that tradfi is guaranteed to come buy your bags.
It means tradfi is using chains and wallets as distribution to sell you theirs.
This can be good. Public access on globally distributed networks, transparency, self-custody, etc.
But it's not a magical permanent bid unless the assets are fantastic and can justify portfolio allo.
INTEL: SEC names digital assets and blockchain technology a core focus in its 2026-2030 strategic plan, targeting clearer rules for tokenization, staking, custody and SEC-CFTC jurisdiction