A highlight from 1260. Stand With Crypto! | DO THIS NOW Before It's Too Late!
All right, so we've got a lot happening in the area of regulation, and one of the things we'll be covering today is talking about Coinbase and their whole Stand With Crypto campaign. You guys are going to like this one, and it will also help you guys make your step into supporting the crypto events that are happening and, of course, the regulation itself. My name is Paul Baron. Welcome back to Tech Path. All right, so let's get into it today. I want to go into a couple of topics. This is all going to be about Coinbase and what they're doing to essentially fight for our rights to basically own and operate crypto. But before we get started, I do want to thank our sponsor, and today that is Tangem. If you guys are looking at doing self -custody, this is one of the tools you can do it with. They have a really interesting concept around self -custody. One of course, it's an NFC card. It has an app related to it, and it's very easy to use. So make sure and check out their website. If you go and decide to get one of these wallets, make sure and get the new card. This one comes out in October. There's a lot of new features and benefits. Check their Twitter for a lot of the updates. But you do get that one, and you can get the additional discount by just using our link down below. So make sure and check that out. It does help the channel out. All right, so let's get into a couple of topics today. One of the points I want to hit on is this right here, is that with regulatory scenarios really starting to heat up, the SEC has basically put out another shot across the bow, saying crypto chiefs now warns more charges coming to exchanges. And a couple of things that I think we have to be aware of is just how much the SEC is doing right now in terms of the major exchanges. The major exchanges, obviously we know about Coinbase and Binance. But what others are they trying to go into? Will we start to see actions in everything from KuCoin, etc., to potentially cause some more challenges in the exchange wars against the SEC? And the other aspect that you have to think about on this is the component around the regulation. All of this regulation is brewing now. We are in the heat of a lot of regulation coming up. In fact, right here, if you look at Patrick McHenry's website, I'll show you guys some of the bills that are going in front of a vote right now. The Power of the Mint Act, CBDC Anti -Surveillance State Act, and the Digital Dollar Prevention Act. This is basically all anti -CBDC. All of this, of course, will be going in for votes very quickly. We're going to try to do a video for you guys to cover this and give you the results of this as it starts to resolve here. So lots happening there around legislation. Now with legislation comes you and me going out and really letting our state representatives, our congressmen and women understand our position. I think one of the tools that I have found that is pretty effective is what Coinbase has done. So it's a call to action mobilizing 52 million crypto owners into an army of 1 million advocates for change. And I think if we get that many advocates for change and create enough awareness, I think this is definitely a significant program. Now what they've done is they're going after some key states here. And this will be Arizona, California, Georgia, Illinois, New Hampshire, Nevada, Ohio, and Pennsylvania, and of course, Wisconsin. These are key states in all of the primaries. And of course, in most cases, contribute a lot toward the potential next president. So this is a big deal of where this is going to be going on stand with crypto. So earlier this year, they took this research project on 87 percent of Americans believe the financial system needs changing. OK, I would agree with that. 51 percent of Americans believe that America's financial system does not work fairly for everyone. And I think that would make sense based on just the demographic cut that we're already starting to see. And then 63 percent of crypto owners agree that the system unfairly favors powerful interest. That I think has been all about the evolution of what's happened here in America, especially on the business interest side. Forty percent of those who own digital assets do not do so to remit money across borders to help family members. So this is another thing that a lot of people are utilizing this to really handle their everyday function of just being able to support families outside the United States. This is a big deal. 72 percent of the 18 to 34 is believe crypto gives people direct control over their money. This is another area that is going to be very interesting for a lot of our lawmakers. And the reason is because when you look at the 18 to 34, this essentially is the next demographic that's going to run the country. It's also the next demographic that is going to do most of the powerful purchasing for companies etc. We talked to a lot of brands and this is a big category in terms of demographic. 52 million Americans own crypto. There's some of the data that they pulled from this research. Five times more than own an EV. That's pretty interesting.