What the Crypto Industry Could See Under a Biden Administration


So to the question. I'm sure everybody's wondering about. He had asked for advocating on behalf of the industry or the community. How will that change. And to describe that sort of set the baseline by describing how or what. The strategy was the trump administration. And how you think that will change under a potential biden administration. Yes you have to remember. The biggest barrier to getting better policy in washington is an education barrier. This is a really new emerging fast emerging space. It's complicated it's difficult for policy makers to find the time to to learn the ins and outs of how it works Another challenge we have. Is that most of your everyday. Average consumers don't really do much with crypto yet. And so it's not top of mind. For policymakers by our strategy over the past couple of years has been to grow the base of champions on these issues and work with them to put forth. What we think are thoughtful. Good solutions Another important piece of what we do. Is we try to stop bad things from happening. Which we've succeeded. Add a couple of times on the legislative side because it's just as important to stop bad things than it is to get good things going forward and i would they an example if well there've been a couple bills that have been floated introduced like a very early version of the manage stable coins or securities. Act for example. You know that would have defined stable coins in a way that it wasn't intended to so the spirit of the legislation might might not have actually been not terrible but the way it was drafted was was would have been very hurtful to the industry and so we were able to work with that office get some of those definitions change but ultimately it stalled into able to prevent that from going forward the the because these are such niche issues. For policymakers we really had to rely heavily on those who have a personal passion for this space. So you know has to pursue. You've interviewed multiple times brian brooks. They've been fantastic. Allies champions to have and having them in those spots heads you know not only have they been able to put forth their own ideas. But they've been able to educate their peers their regulatory regulator peers on on cryptos that. That's positive any congress we. Have you know some good champions that are continuing to put ideas forward but the reality is it's a long way towards actually getting big comprehensive package across the finish line so as we look to the biden administration is if that is indeed dealing with. I mean who knows anything could change. I actually think the combination of a biden administration with the republican senate. Which i think is where we're going but again that could change too but those that is really really good for crypto and there are couple of reasons for that that the trump administration is a little bit mixed. Right as i mentioned we have. Has we have brian. They're great we'll secretary mnuchin. Who's not a big fan of the space Trump himself We have jay clayton. Who has been a skeptic Those are you know mnuchin. Clayton are appointed by trump And they've been standing in the way of getting something so as we look to the biden administration were hoping to be able to get educated crypto educated regulators in key positions in the sec. The cftc sec and doing what we can to try to influence those choices and in survivable played important role in picking. Those people are but because we have a republican senate. Those choices i think. We're going to be much more moderate than they would have. If if the democrats take the senate Under a democrat controlled senate than the progressives Have a little bit more of a say in who those. Those people are but If the senate banking committee is controlled by pat toomey mitch mcconnell's running the senate floor. Those guys are not going to approve of somebody. That's two left and they're gonna need to get some republican votes for those positions. So i think that's good for crypto because the support we've had from democrats tends to be those that are a little bit more to business that are open to You know private sector innovation. And i think that that that is actually a winning combination in. There's potential to get some great great

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