Today, I introduced the Securities Clarity Act with @RepDarrenSoto. This bill clarifies the regulatory classification of digital assets and provides market certainty for innovators and clear jurisdictional boundaries for regulators.
People in crypto can be so short-sighted👀
IMX & Polygon joined forces; $IMX dropped from $1.48 -> $1.26. "The price is crashing!" 📉
But also 10 days ago it was trading at $0.78! 🚀
So is it "down bad" or "way up" or do yall have too short of a time horizon🤔
Ask me in 5 yrs
1/ Today, @BlockchainAssn sent FOIA requests to the Fed, FDIC, and OCC, demanding information about the unlawful debanking of crypto companies.
We are also collecting evidence of debanking. Share your story with us:
[email protected]
Here's the situation 🧵
The Biden admin wants to create a surveillance-style digital dollar that is NOT:
❌Open
❌Permissionless
❌Private
That's why I introduced legislation to prevent unelected bureaucrats from stripping Americans of their right to financial privacy.
While Bankman-Fried is in custody, John Ray assisted our Committee’s investigation into SBF’s con.
Ray committed to providing my office with correspondence between FTX and the SEC as well as details into the nature and scale of FTX’s investment into IEX.
🚨🚨🚨
The Bankless @YouTube account 'has been terminated'
🪓
No warning.
No notification.
No justification
150,000 subs
10,000+ hours of content
Hey @YouTube, our community would like a word!
RETWEET to let YouTube hear you: It’s not okay to ban crypto content
BREAKING: The Russian government and central bank have just reached an agreement on cryptocurrencies, according to Russia's Kommersant.
Both organizations will treat bitcoin and crypto assets as currencies.
Lost in the mess of today's news cycle was another positive & constructive House Financial Services Committee hearing on stablecoins.
The big question is if all stablecoin issuers have to become insured depository institutions (read: banks).
The Committee mostly said "no." 👍
I shouldn't be taxed when I create new tokens through staking. The law on newly created property is clear, but the IRS hasn’t been… and that’s why I sued. Here is my statement on my case.
Josh sued the IRS for clarity on taxation of new tokens created through staking. The IRS tried to pay him off to drop the suit. He turned down the money to continue the case & seek binding precedent for us all. 👑
Huge thanks to Josh & his legal team for fighting the good fight!
Facial recognition for taxpayers. Giving Treasury Secretary power to ban #BTC + digital assets. Intrusive reporting requirements for banking. Absolute LUNACY. Each stands in opposition to 1st principles. I will FIGHT every one of these intrusions into American life and commerce.
1/ I wanted to share a few thoughts about House Democrats’ version of the America Competes Act (pg. 1485 below), which is raising alarms across the financial industry.
https://t.co/ciDKzvE2VA
.@cmsholdings' Dan M, @rsalame7926 + @pythianism have joined forces to launch a new crypto political action committee to make multi-cycle donations in races across the house + senate
GMI PAC plans to spend $20 million in the 2022 midterms
https://t.co/mBidfjlg7j
A new provision in the COMPETES Act would allow the Treasury Department to unilaterally prohibit certain financial transactions *without* public input.
I've submitted an amendment to fix this massive mistake. #crypto#blockchain https://t.co/S8Gi0AIz4l
🚨 We've uncovered the US government's strategy to tame crypto.
The banking agencies—OCC, FDIC and the Fed—are colluding to give the stablecoin industry to the banks
Full exposé here:
https://t.co/4mShP28gyn