Governor Jared Polis, Colorado, Treasury Department discussed on CoinDesk Podcast Network


Regulatory positivity side, residents of Colorado can now pay their state taxes with crypto. To do so they have to use PayPal crypto tools and they have an additional fee, but at least it's a sign of legitimacy. Colorado is led by governor Jared polis, who is one of the most forward looking U.S. politicians when it comes to crypto and tech in general. Finally, on the weirdness front, the Treasury Department has published a request for comment asking the public to weigh in on how crypto might be used in a legal activities and how it should respond. The weirdness for me doesn't stem from whether treasury should be dealing with these issues one 100% they should. It's more about the strangeness of this being what they ask the public to comment on. Take this question. How can the U.S. Department of the Treasury and concert with other government agencies improve guidance and public private communication on anti money laundering and combating the financing of terrorism and sanctions obligations with regard to digital assets? The question is how much does the public have to say about that? Now, of course, public comment quote unquote still could mean that it's really for a very small number of enfranchised organizations to comment. And what's more in general, I'm for the government asking for more, not less of people's opinions. It's just strange that this particular issue is one where there is a request for comment when there's so many other issues that the public might have an even stronger opinion on. Now, let's look at some pre and post narrative institutionalization. And first I'll define my terms. Institutionalization during the last run was very much narrative. And what I mean by that is that the bull run really got started with the idea of institutions finally actually coming to the space. Specifically with the idea of Bitcoin as an inflation hedge. There was Paul Tudor Jones great monetary inflation thesis, and of course Michael saylor's Bitcoin buy, which led to Tesla's Bitcoin buy, et cetera, et cetera. What I mean by post narrative institutionalization is the slow deliberate but clear process that has been happening this entire bear market

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