A big win for crypto again - page 2.

wxa7115

hero member

Activity: 2702

Merit: 704

Bitcoin is GOD

Quote from: Yogee on October 04, 2023, 08:20:45 PM

Wasn't the SEC guy dubbed as "pro crypto" before he took over? A lot of people were happy at that time because of his favorable stance on blockchain but look at how that turned out hehe. The same could be the case with these "pro" politicians. They say what people want to hear a lot of the times but what have they really done so far?

He is a puppet and puppets do what the puppet master commands them to do, this is why it is useless to listen to what they say as this has no meaningful impact on our lives, what matters is what they do and the kind of laws they want to pass.

And anyone that thinks about this topic should know this is simply one more step on their attempt to try to regulate this market and subdue it, as they want to know what do you do with each satoshi you have in your wallet.

Yogee

sr. member

Activity: 1554

Merit: 413

Wasn't the SEC guy dubbed as "pro crypto" before he took over? A lot of people were happy at that time because of his favorable stance on blockchain but look at how that turned out hehe. The same could be the case with these "pro" politicians. They say what people want to hear a lot of the times but what have they really done so far?

Die_empty

hero member

Activity: 686

Merit: 987

Give all before death

Quote from: Macoach on October 04, 2023, 03:19:04 PM

https://coinmarketcap.com/community/articles/651d60a08cbbdd308ef0f24c/

'A crypto-friendly lawmaker takes interim house speaker position'

I Don't what this means to you but I think we're moving forward.

The Speaker of the House is not a dictator. Policies must pass through the legislative process and in most cases go through a vote. So a crypto-friendly interim speaker will make little or no impact in his quest to push favourable polices. If he tries to be too powerful he would face the same thing that Kevin McCarthy faced. This interim position will not last long so I am expecting nothing from this post occupied by Patrick McHenry. There are also indications that the interim speaker might be removed from the House Financial Services Committee which might not be good to the crypto sector. Being the chairman of this powerful committee gave McHenry the best platform to introduce and pursue pro-crypto bills.

Quote from: bittraffic on October 04, 2023, 03:57:05 PM

Can they fire Gensler thru senate? I think this is what they need for Spot ETF to go through.

The head of the SEC is an appointee of the President and confirmed by the Senate. The President is the person who has the right to sack the SEC chairman under some circumstances. The Senate can only recommend a sack to the president because they lack the power to do so. But the sack process can be very complicated.

bittraffic

hero member

Activity: 3038

Merit: 617

Quote from: darkangel11 on October 04, 2023, 03:39:53 PM

Is this really an Economics thread? More like Politics...

This is not a huge win, since McCarthy wasn't against bitcoin. Here's one of the things he had to say about it:
"Senate Democrats are now targeting people who have bought cryptocurrency. They think the tax code should treat the crypto ecosystem the same as it had been treating stockbrokers since 1954. That's not what I'd call 'progressive."

Of course his successor is pro bitcoin and anti SEC, but it's not like we've managed to get rid of Elizabeth Warren, or kick Gensler out of the SEC Wink

The crazy world is what we are living in now. IRS is even going to tax people who profit $600. It used to be $20k, a great leap under.

The change of speaker seems giving crypto holders hope for progress though and I think we may finally see the light at the end of the tunnel. If many lawmakers grilled GEnsler the other day on the hearing, this time there is support from this new speaker. I guess they may be able to grill Gensler on the Senate, if they also do a hearing on the Senate.

Can they fire Gensler thru senate? I think this is what they need for Spot ETF to go through.

darkangel11

legendary

Activity: 2296

Merit: 1335

Don't let others control your BTC -> self custody

Is this really an Economics thread? More like Politics...

This is not a huge win, since McCarthy wasn't against bitcoin. Here's one of the things he had to say about it:
"Senate Democrats are now targeting people who have bought cryptocurrency. They think the tax code should treat the crypto ecosystem the same as it had been treating stockbrokers since 1954. That's not what I'd call 'progressive."

Of course his successor is pro bitcoin and anti SEC, but it's not like we've managed to get rid of Elizabeth Warren, or kick Gensler out of the SEC Wink

Macoach

member

Activity: 64

Merit: 32

https://coinmarketcap.com/community/articles/651d60a08cbbdd308ef0f24c/

'A crypto friendly lawmaker takes interim house speaker position'

I Don't what this means to you but I think we're moving forward.

Topic: A big win for crypto again - page 2. (Read 284 times)