Obviously I’m a US citizen and this post is only referring to the United States, because as far as I’m aware, there are no other countries outside of the US, Canada and maybe Mexico I think it’s called?
After watching last weeks 5 hour hearing between crypto CEO’s and Congressmen/women, I can’t help but feel excited. It was obviously only the very first step towards meaningful legislation, but the way the hearing unfolded made me pumped the fuck up. Most of the questions asked seemed to be focused on how the government could legislate crypto in a manner that would benefit both crypto and the government. Although my political beliefs tend to align libertarian, I’m also a realist and know that having the US government supporting crypto to some degree is pivotal for our long term success. Combine this with the recent news of JPow saying he doesn’t see crypto as a threat to the US dollar, and it seems as if politicians are taking an open minded approach to crypto. We’re still very early and could see the gov crack down and try to seize control and attempt to centralize it, however those aren’t the vibes I got from the hearing.
I may be completely off base here and reaching for straws, but I thought the hearing went very well from a crypto investor point of view. Everyone saw the video of brad Sherman attempting to mock the space, but he was one of very few that took that stance. It seems to me as if politicians realize they are too late to implement regulations that can seriously damage the crypto movement, so they are seeking avenues to benefit from it without pushing the money to overseas competitors.
At this point in time, it seems like a best case scenario. I can’t stress enough that I am not a big gov advocate, and I’d prefer they keep their greasy paws as far away from crypto as possible, but I know that simple can’t and won’t happen. It’ll be interesting to see what comes out of the next few moments.
Please note that these are the drunken ramblings of a humble idiot. I’d love to hear opposing viewpoints!