20 Burst results for "Cynthia Loomis"
"cynthia lummis" Discussed on The Decrypt Daily: Bitcoin & Cryptocurrency News Podcast
"Hey everyone, quick announcement. This is Matthew deemer of the decrypt daily. I'm going to let you know about the merge happening. No, not the Ethereum merge. This the merge between the crypt daily and decrypts other podcast GM with editor in chief, Dan Roberts. Hey guys, over on the GM podcast, which we launched about a year ago, we have one deep dive long form conversation every episode with only the biggest names in crypto. Even if you see Z, SPF, senator Cynthia lummis, Andrew Yang, people pleaser, anatoly from Solana, the board API club founders, and many more. And we're pumped to bring that energy to the new combined GM podcast. So if you're listening to this, you don't need to do anything. Stay subscribed. But don't be freaked out by the new logo and the new name. Every day is still going to be me and on the weekends, it's going to be Dan and it all start guests from our decrypt staff. See you Monday, January 16th with a whole new show and format.
"cynthia lummis" Discussed on Simply Bitcoin
"Dollars realized monetary inflation. Bitcoin continues to take government currency state currencies to absolute school Bitcoin has the best incentives, 1.76% and the market capitalization of Bitcoin is at $319 billion in the grand scheme of things. Bitcoin is still a baby. Anyways, anyways, so I wanted to play you guys this clip of Cynthia lummis basically hitting back hitting back saying, listen, listen, the FTX debacle had nothing to do with Bitcoin. You guys are using that as an excuse to justify this tyrannical legislation that they're that Elizabeth Warren and senator Marshall are trying to push through. So I'm glad we had the Bitcoin senator on our side fighting the good fight. I want to say one last thing about this regulation that they introduced. This regulation would have not stopped. And it would have not protected investors in the FTX debacle. They're using this as a justification to go after Bitcoin because Bitcoin ends the party. If people have an alternative to state money and that alternative provides better incentives, people are naturally going to opt out. And if people naturally opt out, it ends the racket. And what is the racket? The racket is that the government, the state, has this privilege of being able to create money for free, that everybody else has to work for. And people. Thanks for the super chat. I'm sorry, guys. This is part of the rules. Vague says super chat, $5, just found out my wife slept with Nico and opti. I'm devastated, but not gonna lie, I still watch simply pick up.
"cynthia lummis" Discussed on Thinking Crypto News & Interviews
"Opinion, where we suddenly this didn't happen overnight, but we suddenly find ourselves kind of looking around going, what in the heck just happened here and what do you mean I can't access my own money while you don't deserve it? Well, that's not how this has worked previously. Private property rights is ensconced in the constitution. That write a privacy is ensconced in the constitution. There have been a lot of efforts to chip away at that. And Tony, as you point out, I think that is exactly the problem that we would be facing if this is not done properly. And I'm not sure I quite understand this rush to have this happen. And this is kind of one of those issues that scrambles among conservatives and liberals and Republicans and Democrats. It kind of doesn't matter. It's just more of a sort of a worldview because there's some very conservative people who all believe full on that digital dollar needs to happen and the fed and the Central Bank need to run it. And then you've got some on the left who are like, wow, time out, where are we going on this? And vice versa. So, you know, I'm very, very cautious about that. I'm a firm believer in our personal privacy and our constitutional rights and I see a lot of pitfalls, so is it part of it too, is the global competition. China has their digital yuan. They're looking to inject it into different markets that they're going to industrialize, so to speak. And the U.S. dollar is the world reserve currency. So is that part of the urgency for some folks like the fed? Yeah, that is part of the argument towards that urgency. There is no doubt. But I would caution anybody just needs to look at what has happened in China with their own citizenry. What makes you what makes them think that just because they're in Africa or Asia somewhere else or in South America, but they're not going to do the exact same thing. And oh, so suddenly you want to protest in the streets. Sorry, you can't get to your bank account. That's a very real concern. Yeah, absolutely. And I'm hoping we can get it right. And not follow that model. Yeah. Final crypto question here before we hit the wrap up. Are you optimistic we can get some sort of legislation through in 2023, whether it be stablecoins or actually comprehensive crypto regulations, whether it be later in 2023, but we can get enough members of Congress on board. Tony, great being with you. Sorry, I got to go. All right, look, I mean, that's going to be the tough part, right? And you're going to have to have consensus, and as I had said earlier, you know, we were starting to get some consensus on the stablecoin, for example. We've been working with the Senate. I met with Cynthia lummis, senator lomas from Wyoming, maybe a month, month and a half ago or so. There's some others that are working on it over there. So we're going to have to find our way in the house. We're going to have to figure out how we get 60 votes together in the Senate. And then have an administration that's open to it. And frankly, they're going to be using Gary gensler as one of those advisers on these things, as whether they should or shouldn't be signing bills into law. So I would say I'm cautiously optimistic. There certainly will be effort put into it.
"cynthia lummis" Discussed on Bloomberg Radio New York
"Network to knock it offline. For the fourth time this year, Elon Musk is unloaded Tesla's stock, the electric carmaker CEO, sold almost $3.6 billion worth of shares this week. That stock is plunged 55% this year. Investors are concerned that must $44 billion purchase of Twitter could have an impact on Tesla. And Ford and a Chinese company may build a battery factory in Michigan despite current U.S. China tensions. The automaker and CATL are trying to take advantage of a complex arrangement to read new tax benefits. Bloomberg news has learned that Virginia is also a possible home for the multi-billion dollar facility. And as the Bloomberg stem report, Nathan. No, that'll be one to watch. Thank you, Karen. We're coming up to 6 44 on Wall Street and it's now time to check what's going on in D.C.. Some of the top stories in our nation's capital include the ongoing fallout on Capitol Hill over FTX. The Senate voting to ban TikTok on government owned phones, the house passing a one week stop gap to avoid a government shutdown and President Biden encouraging fair elections in a meeting with African leaders. Let's bring in Bloomberg government congressional reporter Jack Fitzpatrick's for more on some of these stories. Of course, Jack, we've been following the FTX hearings very closely over the last two days on Capitol Hill. Have you heard any minds change from lawmakers about crypto? Not really among the enthusiasts, the enthusiasm is still there. It may be the case that some Democrats who had concerns see those concerns as ramped up, Brad Sherman, the Democrat from California, described crypto as a garden of snakes, but some of the people who work on these issues on the Republican side is still seem to be pretty enthusiastic. Senator Cynthia lummis is sort of went on defense and said, you know, there's a separate conversation about FTX versus broadly about cryptocurrencies. She's worked on a bill regulating cryptocurrency. Patrick mchenry, who's in line to be the financial services committee chair in the house next year, Republican from North Carolina that he's still a believer in digital assets. So it doesn't seem like the kind of situation that's fundamentally changed where the support and where the concern is. Maybe it just ramped up the pressure for those who already had concerns. Well, where does this leave the possibility for further regulation around crypto? Are we saying that same kind of bipartisan split when it comes to that? You know, there has been some bipartisan work on regulation, senator lomas has worked with and proposed a bill with senator Kristen gillibrand, a Democrat to set up a regulatory framework. That's one of a few things that have been proposed. It's not the simplest conversation to get into and it's difficult to see exactly how Congress works together with very narrow majorities in the House and Senate with different parties in the next Congress. So you can't exactly guarantee a lot of progress on this issue going forward, but there definitely are still key lawmakers who are interested in taking this up. They're not just trying to wash their hands of it and say, well, clearly crypto is terrible. We have to simply crack down. They're probably is some bipartisan interest still in creating that kind of regulatory framework. Now, speaking of bipartisan Jack, we don't often get to say bipartisan passage in the Senate, but man, did we see that when it comes to TikTok? Yes. So on unimportant bills usually they manage to pass things by unanimous consent in the Senate that might be renaming a post office or something along those lines. They actually took up and agreed to by unanimous consent pass a bill to ban TikTok on government owned phones, clearly a bipartisan and unanimous reflection of the concerns about the Chinese owned app being on government phones, the security concerns about that pretty significant. So that was relatively sudden in terms of it coming up to the Senate floor and being passed, but clearly that at least that limited measure on government owned phones was something there's a lot of support for. And it looks like you've got a limited measure when it comes to keeping the government funded. What's the update on averting a government shutdown? Well, they're buying an extra week tomorrow night Friday night is the deadline currently. They are the house just passed a weeklong stopgap, the Senate is supposed to take that up probably today unless they want to work late and wait until the last minute and do it Friday. But likely today, they have a framework agreement on how to do a real government funding bill. And so now they essentially just need to finish writing it, which takes a little bit of time, but the goal is to be able to do that and enact it by December 23rd next Friday and lately it's been good news in terms of the progress on that. So they're buying an extra week and crossing their fingers that they can finish what I'm sure would be more than a 2000 page Bill by them. About a minute left here, Jack, President Biden has been focused the last couple of days on Africa, the leaders summit. What's some of the highlights from that? Well, the emphasized fair elections, Jake Sullivan brought this up and said that it's not about a specific warning, but they wanted to express that there are elections coming up and they want to emphasize the importance of free and fair elections. A lot of talk about investment about more than $50 billion in U.S. investment in Africa over the next three years. And of course, you saw the president stay at the hotel where this happened to watch the Morocco France World Cup game, not exactly the most important part, but investment and free and fair elections, really the big two prongs there. Yeah, and Morocco is part of Africa, of course. So the focus certainly there as well. Bloomberg government, congressional reporter, Jack Fitzpatrick, joining us live from the nation's capital. Read more on all these stories at Bloomberg dot com or on the Bloomberg terminal and follow all the latest on Bloomberg radio in Washington, Bloomberg 99 one, and one O 5.7 FM HD two. S&P futures
"cynthia lummis" Discussed on Bankless
"What I think we really need to do, let's start with stablecoins. Stablecoins are a discrete category. They're relatively easy to understand. I've got a framework out there that's very similar to the framework that Cynthia lummis and Kirsten gillibrand came up with. If we could get something done on stablecoins, that would be like this huge step forward. I think it would be extremely encouraging. It wouldn't by itself solve all the problems. We still have the issue of how you decide what's a security and what's not a security. But if we could, if we could resolve the question of who can issue stablecoins under what conditions, how is it regulated? I think that would be very, very constructive. Be a great first step. And then, hey, after that, you know, we take on the next challenge. How close do you think we are to doing something like that? I'm hoping that I'm quite close to announcing a bipartisan stablecoin Bill. Getting it across the goal line this year will still be very difficult. I'm not going to not going to get you. I think we could get to a. Introducing a bill that has a bipartisan list of co sponsors and that's a huge step in the right direction. The house was trying to negotiate something between Maxine waters and Patrick mchenry, the chair and ranking member, respectively on our counterpart committee in the House. They really were able to quite get there. If we could get a bipartisan product that dealt with this, it put a lot of pressure on the administration to come to the table and get this resolved. And the administration, I will say in fairness, some in the administration understand that we really should do this. We really need to get it done. The question is, can we get them to a place where they'll do it in a fashion that allows the space to thrive as opposed to be stifled? I think that's very important. And that's kind of key, right? Which is a reason I think we like stablecoin regulation as a starting point is because at least when you're talking about the centralized stablecoins, stablecoin, USD C from coinbase and circle, right? These are very kind of known quantities. These are centralized products. In order to do that in a way that doesn't stifle innovation of some of the things that we're building in DeFi. We interestingly enough, it was revealed that SPF was that same bank with freed behind FTX. It was very involved in some of the legislation behind the proposed legislation of the D.C. CPA. And some of that felt to the crypto industry, the crypto community, like there was sort of a pulling up the ladder, an entrenchment of regulatory capture entrenchment of a larger institutions now to FTX had become an institution, these banks, and kind of push against DeFi. So making certain things into centralized finance, illegal, making all front ends of decentralized finance.
"cynthia lummis" Discussed on Coin Stories with Natalie Brunell
"All right, back to the show. He said, Powell. Oh, sorry, Bernanke should be in prison. I'm not saying that. I am saying that. I will vouch for the same thing. This is criminal behavior that is disgraceful for my children. You just carry that on in my book. I talked about the two years of Bernanke quotes. That said, leading up to 2008 that said, no problem, there's never been there's never a subprime law contained. There's never been reduction in housing prices, the economy is strong. Over and over and over as he carried on policies that then and then he gets a Nobel Prize. Right. For bailing out the system that he created. Well, senator Cynthia lummis on my podcast recently said that when she was in the house, Ben Bernanke was asked at a public hearing at what point is our debt unsustainable and his quote was, I don't know, but we're not there yet. And then she's heard subsequent fed chairs say that. And it's like, at what point does the music stop playing? I mean, and I guess kind of begs the question. I'm curious your thoughts. We seem to have kicked the can down the road and during times when people thought, no, this is the last one. This is the last QE. We're not going to be able to do it anymore. What's the scenario in which we do model through this? So today, if the entire world says is going to stay on the U.S. reserve currency, if then what that means is U.S. could essentially the rest of the world is financing the U.S. and the U.S. essentially getting vendor financing to the U.S. and U.S. money to trade in printed money. And that is a negative externality around the world. And if that keeps going, and it and other countries are going to trade their hard assets for paper that's going to be devalued over time forever. Like oil, like oil. So I'm going to trade the things that are valuable in my country. And I'm going to trade my labor in my other country. For paper that's worth a depreciating value for eternity, then this could go on for a long time because it means the rest of the world's pain is the USS game. But I wouldn't bet on that. I wouldn't bet on the rest of the world. But let's do the math for the whole world. Everyone says, how long can it go for the U.S.? Okay, I agree. It can go more for the U.S., but it's the periphery nations that will fall down once because again, if you take the world as one system, the total debt of the world is 400 trillion versus GDP, which is a 100 trillion. If you look at the whole world, all right, it's very simple. There will be catastrophes because of that math.
"cynthia lummis" Discussed on Coin Stories with Natalie Brunell
"Making the right decisions <Speech_Female> adopting <Speech_Female> Bitcoin and <Speech_Female> legislating it in a way <Speech_Female> that is <Speech_Female> fair and allows for <Speech_Female> more adoption? <SpeakerChange> <Speech_Female> <Speech_Female> That's the <Speech_Female> approach that senator <Speech_Female> gillibrand and I <Speech_Female> are taking. <Speech_Female> Our bill we <Speech_Female> believe allows us <Speech_Female> to innovate. <Speech_Female> But <Speech_Female> still provides a regulatory <Speech_Female> framework. <Speech_Female> <Speech_Female> So we will be <Speech_Female> resistant <Speech_Female> to <Speech_Female> members of the U.S. Senate <Speech_Female> and House who <Speech_Female> want to <Speech_Female> clamp down on it. I <Speech_Female> <Speech_Female> tend to subscribe <Speech_Female> to the point of view <Speech_Female> that <Speech_Female> America will <Speech_Female> do the right <Speech_Female> thing after <Speech_Female> they've tried <Speech_Female> everything else. <Speech_Female> <Speech_Female> And I <Speech_Female> think we're in that phase. <Speech_Female> We're trying <Speech_Female> everything else. And <Speech_Female> we're failing. <Speech_Female> And we will eventually <Speech_Female> do the right <Speech_Female> thing. <Speech_Female> But <Speech_Female> their <Speech_Female> individual leaders <Speech_Female> in <Speech_Female> our country right now, <Speech_Female> I believe, <Speech_Female> that are <Speech_Female> bound and <Speech_Female> determined <Speech_Female> to do the wrong thing. <Speech_Female> <Speech_Female> And we're <Speech_Female> going to have to get through <Speech_Female> this. So <Speech_Female> one of <Speech_Female> the things that I <Speech_Female> know and like <Speech_Female> about bitcoiners <Speech_Female> is they really <Speech_Female> seem to understand <Speech_Female> fundamental <Speech_Female> <Speech_Female> economic principles. <Speech_Female> And <Speech_Female> value <Speech_Female> freedom <Speech_Female> <Speech_Female> may be more <Speech_Female> than other people. <Speech_Female> <Speech_Female> And so I <Speech_Female> hope that these are <Speech_Female> going to be the leaders of <Speech_Female> our country <Speech_Female> going forward. <Speech_Female> The <SpeakerChange> benefits <Speech_Female> of individual <Speech_Female> freedom, <Speech_Female> being <Speech_Female> your <Speech_Female> individual <Speech_Female> sovereign, <Speech_Female> is going to be <Speech_Female> the <Speech_Female> direction <Speech_Female> that helps <Speech_Female> map the future <Speech_Female> for America. So <Speech_Female> I encourage <Speech_Female> Bitcoin <Speech_Female> advocates <Speech_Female> who have those fundamentals <Speech_Female> to <Speech_Female> get involved in <Speech_Female> politics. I know <Speech_Female> that <Speech_Female> it's a lot <Speech_Female> to ask. <Speech_Female> But <Speech_Female> we need you. <Speech_Female> We need you <Speech_Female> now. <SpeakerChange> Well, it's <Speech_Female> a powerful message <Speech_Female> just to wrap it up. I <Speech_Female> know that you come from <Speech_Female> generations of hardworking <Speech_Female> ranchers, <Speech_Female> really salt <Speech_Female> of the earth, <Speech_Female> Americans. Does <Speech_Female> that sort of stamina <Speech_Female> help you <Speech_Female> when you're up <Speech_Female> against these heavyweight <Speech_Female> politicians that <Speech_Female> are always in the headlines, <Speech_Female> many of them <Speech_Female> taking that negative <Speech_Female> stance against Bitcoin? <Speech_Female> <SpeakerChange> <Speech_Female> Well, it's been <Speech_Female> so much fun to work <Speech_Female> with senator gillibrand <Speech_Female> because <Speech_Female> I have a Wyoming <Speech_Female> style, which <Speech_Female> is a little more laid <Speech_Female> back. <Speech_Female> And she's <Speech_Female> very much a New Yorker. <Speech_Female> Because <Speech_Female> even though she came <Speech_Female> from upstate New York, <Speech_Female> which is very rural, <Speech_Female> <Speech_Female> she has that <Speech_Female> New York <Speech_Female> lean in and <Speech_Female> fight. <Speech_Female> And <Speech_Female> so I've seen her <Speech_Female> push back in <Speech_Female> ways that <Speech_Female> are, <Speech_Female> <SpeakerChange> <Speech_Female> you know, pretty aggressive, <Speech_Female> <Speech_Female> and so I'm kind <Speech_Female> of learning a little bit <Speech_Female> from her about that. <Speech_Female> But it's also <Speech_Female> fun because she'll <Speech_Female> push back <Speech_Female> against <Speech_Female> people in her own party. <Silence> <Speech_Female> Whereas, you know, <Speech_Female> I tend to <Speech_Female> prefer the soft sell. <Speech_Female> <SpeakerChange> <Speech_Female> But. <Speech_Female> <Speech_Female> <Speech_Female> I feel so <Speech_Female> strongly <Speech_Female> about the fundamentals <Speech_Female> of Bitcoin. <Speech_Female> That when people attack <Speech_Female> their fundamentals, <Speech_Female> <Speech_Female> I get a little. <Speech_Female> <Speech_Female> <Speech_Female> <Speech_Female> Hand about the whole thing. <Speech_Female> <SpeakerChange> Well, <Speech_Female> thank you so much. Senator <Speech_Female> lomas for joining <Speech_Female> us. I know that you <Speech_Female> are working so hard <Speech_Female> in Washington and we <Speech_Female> really appreciate your efforts, <Speech_Female> especially <Speech_Female> when it comes to educating <Speech_Female> Congress on <Speech_Female> Bitcoin. So <SpeakerChange> thank you so <Speech_Female> much. And Natalie, <Speech_Female> I appreciate your work <Speech_Female> in this area too. <Speech_Female> You are a <Speech_Female> solid, important <Speech_Female> educator <Speech_Female> in this <Speech_Female> field. So <Speech_Female> God's blessings <Speech_Female> to you and your <Speech_Female> work. Thank you, you as <Speech_Female> well. Thank you. <Speech_Music_Female> <Music> <SpeakerChange> <Speech_Music_Female> Thanks so much for <Speech_Music_Female> listening to this episode <Speech_Music_Female> of coin stories. <Speech_Music_Female> I'd love to connect with you <Speech_Female> if you have questions or <Speech_Female> guest requests so feel <Speech_Female> free to get <SpeakerChange> in touch on <Speech_Female> Twitter at Nat <Speech_Female> brunell or <Speech_Music_Female> Instagram at Natalie <Speech_Music_Female> brunel. <SpeakerChange> Take care <Speech_Music_Female> till next time.
"cynthia lummis" Discussed on Coin Stories with Natalie Brunell
"When Bitcoin is showing more volatility. So when Bitcoin emerges from this more volatile stage and develops a more sustained hard money characteristic, I think that that lightning network and the ability to use it as a means of exchange will also become more hardened, more capable, more predictable. And also cheaper and faster. So I see it as a good time for developers of the lightning network and developers of using Bitcoin as a means of exchange to develop their processes. So when Bitcoin stabilizes, we're off to its dual purpose, a store of value and a means of exchange. I know a lot of people would say right now that the Federal Reserve is sort of between a rock and a hard place because of how much debt is in the system. And having the experience that you have being a treasurer right now, I feel like at one point you might have said in a speech that in the past, Federal Reserve chairman have said, we can continue to push the buttons and kick the can down the road and we don't know what that number is yet. But we're not there yet, right? What's that quote? We can keep money printing essentially going further into debt until a certain point, but we don't know what that point is. Right. So when I was in the U.S. House, Ben Bernanke was fed chair. And at a public hearing, we said, when is our debt? So big that it becomes unsustainable. And his answer was, I don't know, but we're not there yet. And I have heard multiple Federal Reserve chairman say that. I don't know, but we're not there yet. I fear that we're getting there. And that we're getting there fast. And but what we don't know is when we get there, the point where we've hit the point of no return, what's on the other side of that point of no return. Nobody really knows. So one of the things that gives me comfort is that the Bitcoin infrastructure is getting stronger and more reliable and hardened. So if we actually hit the point of no return with the U.S. dollar, Bitcoin can underpin it. And I very much want the U.S. dollar to remain the Federal Reserve currency. But I think we're being naive if we think we can continue down this path and still expect to be the world's reserve currency. I've heard our dollar, in fact, by bitcoiners described as the cleanest shirt in the laundry. The cleanest shirt in the dirty laundry. Yeah. And I think that's true. Yes, we are first among equals when it comes to Fiat currencies. But what about our profligate spending? What about the fact that now we're at a 130% debt to GDP? And have no plan to reverse that. That's a big concern. And so I'm so happy that Bitcoin came along. Because it gives us something to fall back on if the absolute worst heaven for bed happens. I know a lot of people ascribe so much hope to Bitcoin. You have said, I think on the Senate floor, thank God for Bitcoin. Are you bullish on America and American elected leaders actually
"cynthia lummis" Discussed on Coin Stories with Natalie Brunell
"Some people, they don't understand the difference between Bitcoin and an altcoin. And there are a lot of altcoins that are just fraudulent. They are scams. So they should be under the control and jurisdiction of the SEC. Because the SEC really is good at disclosure and consumer protection. So as soon as more of the bad actors can be dismissed, the better it looks for Bitcoin because of its complete decentralization and the qualities that make it digital gold. So regulation is actually good for Bitcoin because among all the cryptocurrencies, Bitcoin is going to emerge as the gold standard. Is there anything you can share for folks wondering about this Ethereum merge and the potential for a narrative to push for Ethereum being more environmentally friendly over Bitcoin when others are just very concerned about the ultimate centralization and security issues involved with Ethereum from the past? Well, one of the interesting things that's happening is that while Ethereum has touted the advantages of being a proof of stake as opposed to proof of work and that means it's environmentally more friendly and people begin to embrace it, I think that there's very little understanding of how that can affect its more centralized approach and one of the people who I think really understands that is Gary gensler who's the head of the SEC. And his voice on these issues is going to be important. Within this administration, so I'm pretty confident that he's the jury still out with him. On Ethereum and where it should fall in terms of a regulatory bucket and. We use this how we test in our Bill, which is a well understood well defined test to help sort between what is a commodity and what is a security. And the characteristics of Ethereum may change over time as it goes from proof of work to proof of stake. And so I think one of the reasons that Gary gensler has not weighed in put his hand on the scale about Ethereum is that he's probably looking at how this is going to affect its characteristics. Well, so many changes are happening not just in the cryptocurrency world, but also at a Federal Reserve macroeconomic level. We're waiting to see, are there going to be more interest rate hikes? Can the markets handle it? Can you just give us a take on the macro environment right now and maybe how Bitcoin fits in with its volatility and its price crash in recent months? Well, Eva and I have been a little surprised. I would say that Bitcoin has responded along with other aspects of our economy. I would have expected it to decouple from other aspects of the economy. But now that we're seeing the Federal Reserve attempt to address inflation through the only means it has. Which is raising interest rates. We might see things begin to decouple. What I still know is that Bitcoin is a great store of value. And while it is volatile, it may not. Embrace as quickly the notion of being a means of exchange, but some of the systems that coders are developing to perfect it as a means of exchange can occur can be beta tested during this time
"cynthia lummis" Discussed on Coin Stories with Natalie Brunell
"Well, this is a very comprehensive piece of legislation. Probably two comprehensive given the time remaining in 2022 for the bill to pass. But what that does is give us more time to get more input on the bill and we want to embrace that. We want people to provide additional input and ideas and thoughts. So by all means, you can find it on GitHub. You can go look up elements of it that you want to weigh in on. And please do. We encourage people to give us feedback. And one of the areas that potentially people can give feedback on is just what size of a transaction could be taxed. Is that right? Yes, there's an amount that is de minimis in the Bill. So as the lightning network and other opportunities to use it, not just as a store of value, but a means of exchange become more mainstream. We want to have an amount that is just not subject to taxation. And reporting and disclosure. And I think we started the bill at either 600 or a thousand and tried to take it up from their treasuries, pushed it down to 50. And to me, that's 2 million, maybe I was a little ambitious on my side to allow people more freedom with their money. But we are looking for not only what is the right to minimus amount that should be exempt from taxation and disclosure. But why? Why is that the right amount? For example, here at bit block boom, there was a gentleman from Australia who said in Australia, there's a tenth $1000 diminished amount that gives them the freedom to be innovative within this space. So having that example that's already a real world example used in another country will help us. So I encourage people who are listening to you and your many, many listeners. To weigh in, help us. I know bitcoiners are very vocal. They get out there. They want their politicians, their elected leaders to be well educated in this subject. I want to ask you, though, with regards to regulatory clarity and having a real framework, how will that help Bitcoin in a real sense? Bitcoin will actually benefit by having some of the bad actors regulated disclosed and out of the sea.
"cynthia lummis" Discussed on Coin Stories with Natalie Brunell
"And so I have not only a lending library, but a giving library in my office. So if members will say, hey, what books you recommend? I say I'll be right back and I'll go get them layered money or the Fiat standard or the Bitcoin standard or the Bitcoin in the American Dream. There's a lot of wonderful books that I just give to members to read more. Or if they want to return them so I can relent. I'll do that too. I also with senator kyrsten sinema of Arizona created the financial innovation caucus. And we mostly use that caucus to educate Senate staffers for different members. So they can take a deeper dive into teaching their cylinder about these assets. So we've had some great speakers come in and address them. For example, people from chain analysis because so many senators think that this is an asset that you choose for fraud. And crime. And so when we have people from the companies that are solving crimes using digital assets, it really gives them a comfort level and they can teach their senators. That's one example. And so we're using every opportunity we can to help members understand. How challenging is it and what are some of the setbacks that you're facing, especially with what feels like a very polarized, divided Congress. Well, the good news to me is that cryptocurrency is not partisan. And so I can work with people on this issue with which I have nothing else in common. And do. This is an area where I work with a lot of Democrats who are much more liberal or progressive than I am. But it's such a good way to level that playing field. And so it's a seamless way to develop relationships that can evolve into other pieces of legislation that we can work on. Where are you facing the most pushback? I understand the treasury has been a little bit challenging. Not as much as the SEC as some might think. And then also some very vocal senators who come out against Bitcoin. Yes. Well, and that is a problem. We continue to face some headwinds. With senator Warren, you know, and she is formidable. So we want to continue to try and break down those barriers. I'm so delighted that we have some great speakers come in that have some different perspectives that they'll share Kevin O'Leary from Shark Tank, for example. Has established a relationship in the U.S. Senate that are helping break down barriers. And other people as well. So it takes a lot of us and not as you know, Natalie, not all of us learn the same way. So while I was at this conference, that boom, I met a team that teaches about Bitcoin through a comedy routine. And I'd love to engage them because even senators get tired of the boring old read this or take a deep dive into this.
"cynthia lummis" Discussed on Coin Stories with Natalie Brunell
"For the show. I'm here in Austin at bit block boom with senator Cynthia lummis, a huge advocate for Bitcoin senator. Thank you so much for joining me on hard money. It's nice to be with you again, Natalie. It's great to see you. It's so great to see you.
"cynthia lummis" Discussed on Coin Stories with Natalie Brunell
"I love that it can't be stopped. Especially because I'm concerned about our national debt. I'm concerned about inflation. I see people in my home state of Wyoming that are going to food banks now because they need fuel. They need gasoline to
"cynthia lummis" Discussed on CoinDesk Podcast Network
"Cher gensler spent his time in opening reiterating recent talking points. He asserted that quote of the nearly 10,000 tokens in the crypto market, I do believe that the vast majority are securities. Given that, it follows many crypto intermediaries or transacting insecurities and have to register with the SEC in some capacity. Share against the refocused attention to the idea that in creating reforms for crypto markets, Congress and the SEC should ensure that they don't, quote, inadvertently undermine the securities laws underlying $100 trillion capital market. That's the mother lode. That's our capital market. Crypto is one 100th that size. He concluded by noting that the SEC is quote anchored by the laws Congress passes. The court's interpretation of those laws, economic analysis and public input. Now as you can see, in back and forth, the first big topic dealt with was how the SEC defines crypto assets as securities. Senator toomey used the example of Bitcoin which chair gensler has publicly stated does not meet his definition of a security. He asked whether decentralization was the determining factor in this process. Began by referring to the Supreme Court definition as he sees it. Quote, whether the investing public is anticipating profits based on common enterprise. Senator to me question whether a common enterprise could exist in the absence of centralization. While struggling to reach a clear answer, chair against their eventually settled on the idea that Bitcoin's status as a non security hinged on the idea that quote, the investing public is not betting on someone in the middle. To draw a line under his point in this questioning, senator toomey stated, quote, it is not reasonable to fail to provide clarity to provide the definition of exactly where on this continuum you have a sufficient common enterprise that it qualifies as a security in where you don't. You've set Bitcoin doesn't, some of your colleagues have said Ethereum doesn't, but a reasonable developer that wants to comply with this doesn't know where that line is drawn. That prompted against a return to his view that his definition of common enterprise hinged on whether there is a group of developers in the middle, and the investing public is betting on them relying on them. Senator Tommy moved to some discussions of how investors had been let down by the SEC, and their failure to properly regulate crypto intermediaries. He noted that during the bankruptcy of crypto lenders this year had led to the loss of customer funds due to the lack of regulations allowing for the segregation of customer funds. Senator tummy concluded by saying, my concern is that the approach you're taking with these one off discussions. If it did even result in an opportunity to comply, it would be this idiosyncratic exemptive order negotiated with a single company. That's not a good way to pass rules. Chair gensler followed up, I think we've been very clear through 70 or 80 actions. I look at other times in history. The SEC and the asset backed securities market took ten or 11 years where they did these exemptive orders and relief to individual issuers and did a rule at the end of that ten or 11 years based on all of that experience. Seeming to imply that this regime of the SEC just going after enforcement actions is a ten or 11 year process before we get any sort of clarity. A couple of other senators also grilled gensler on the crypto industry. Senator round, Republican from South Dakota directly addressed the issues surrounding the SEC's regulatory strategy of suing crypto companies for issuing securities for the last 5 years, while refusing to put forward any agenda to adapting securities and disclosure rules for the crypto industry. Quote, it seems to me you want to regulate an entire marketplace, but clearly it doesn't appear that you've got rules in place to do so at this time. In my mind, this is simply unacceptable. He noted that he had heard from several crypto companies who tried to work with the SEC only to be faced with heavy enforcement actions or the SEC slow walking the process. Senator Cynthia lummis discussed the bill she and senator gillibrand had proposed earlier this year, specifically seeking feedback on the proposed disclosure framework contained in the Bill. She also reaffirmed her and senator gillibrand's desire to continue to work with the SEC and crafting their bill. She suggested that they might be re-introducing it in January. Now, after all of this, there were big fireworks based on comments to reporters. Following the hearing, gensler offered a generic opinion on crypto staking and how it relates to a token status as a security. Quote, from a coin's perspective, that's another indicator that under the howey test, the investing public is anticipating profits based on the efforts of others. The Wall Street Journal then reported these comments as an indication that Ethereum staking model may raise fresh questions from the SEC about whether or not it should be classified as a security. This had a lot of anti Ethereum folks frothing of the mouth to say that the SEC thinks Ethereum is a security, but clearly not everyone agrees. Jake travinsky from the blockchain association wrote, I'd say I haven't heard a compelling argument as to why staking makes an asset more like a security under the howey test, but actually, I haven't heard any argument at all. It's just something people say without regard for either one, house taking works, or two what the law is. The general idea seems to be, if you squint hard enough staking sort of looks like a dividend or interest, and some actual securities have those, so maybe staked assets or securities, too. That's not how the law works.
Josh Mandel: J. D. Vance Has Been Camped out in Silicon Valley
"Today and in the past you've been backed by Tea Party organizations You've been backed by gun rights organizations You've been backed by outsider organizations You've been the outsider fighting all the time when you were treasurer You were the outsider fighting the entrenched government in Ohio and so forth I'm just asking you a straight question Was JD Vance anywhere to be seen or heard No word I mean literally this guy's been camped out in Silicon Valley for years his personal bread his business bread and his campaign bread is all buttered by Silicon Valley I mean like I said earlier I think he's a Silicon Valley sleeper cell And that's what he'll be in Washington as well And I think a lot of the people here in Ohio see JD advance and that's why they're going to reject them at the ballot box tomorrow And for any of you listeners that want to learn more about Ohio or their other parts of the country the websites real easy It's Josh mandel dot com J O S MAN to EL dot com It's not too late to pitch in if you want to go on there and pitch in ten bucks 20 bucks 50 bucks whatever it is We'll use the vote activities tonight and tomorrow We've got a huge get out the vote operation through churches and through pro gun groups and through pro life groups As you mentioned Mark I am the only candidate in the race that's endorsed by the national association of gun rights which is a no compromise not given an inch constitutional rights gun group I'm also the only candidate in the race endorsed by the right to life action coalition of Ohio who are the pointy tip of the spear leaders in the right to life movement and as mentioned been endorsed by senator Ted Cruz of Texas senator Mike Lee of Utah senator Cynthia lummis of Wyoming these are all senators who were endorsed by Jim demint in the Senate conservatives
Josh Mandel: We Have an Army of Constitutional Conservatives in Ohio
"Josh mandel it's a pleasure to have you with us How's it going there It's going well Mark We have this army of constitutional conservatives throughout the state that are fueling our campaign The political big brain say that whoever has the most money wins especially in a state like Ohio 7th largest state in the nation But we are defying political wisdom and we are winning this race because we have this army of constitutional conservatives and I think Mark that people in my state Ohio And frankly people throughout the country they're looking to send backbone steel spine constitutional conservative fighters to Washington People like Ted Cruz people like Mike Lee People like Cynthia lummis Jim Jordan and others And so when people look at my campaign they see that that is who I am I am a fighter And like you referenced I had no problem taking on John Kasich when he was acting like a Democrat in Columbus and I'll have no problem taking on Republicans who are acting like Democrats in Washington
Senators Urge Biden to Add More H-2B Seasonal Worker Visas
"17 Republicans just signed a letter to Joe Biden. I'm reading from breitbart dot com demanding saying we need more foreign workers. So there are 12 million Americans out of work, there's 35 to 40 million members of my generation that are underemployed. Let me say that again. They are underemployed. So you're not even looking at unemployment. Let's talk about underemployment. Now, what is underemployment? Well, it's someone that went to Wichita state university, and they got a degree in Central American migratory bird studies. And they're working as a barista or they're working as some sort of social media manager, but they are clearly underemployed. But don't worry, Senate Republicans are on the job. Senate Republicans believe that while Biden is trying to bring more people into the country, they want to help them do that. Senators asked Biden to speed up the process, so employers could get more foreign workers into blue collar American jobs. So while we have inflation and while things are more expensive, they want to bring in more foreign workers so that you could depress wages. So prices are going up, so let's try to get our own carpenters and plumbers disenfranchised from ever being able to have meaningful work. Why are they doing this? Well, the 17 Republicans who signed the letter, and I respect some of these people, and I philosophically see where Rand Paul is coming from on this. I totally disagree with him. He's more libertarian when it comes to immigration. I am not. But some of these other people, Kevin Kramer, Mike rounds Lindsey Graham, James rish, Lisa Murkowski, Roy blunt, Cynthia lummis, John cornyn, Mike crapo, John thune, Susan Collins pat toomey, roger wicker, Jerry Moran, Rand Paul, who I'm going to exempt Rand Paul because he's been so amazing on Fauci and honestly, he's a friend of mine, and he's just been awesome on many other things. John barrasso and Tim Scott, but they sign it alongside 17 Democrats. And it says, quote, The White House and congressional Democrats, that's a separate quote. This is from RJ hauman from the federation for American immigration reform, saying quote, Republicans say they're great on the illegal front due to the border crisis, but why not also oppose programs that a rife with abuse displace American workers and depressed wages, of course they do.
"cynthia lummis" Discussed on The Breakdown with NLW
"There was at one point some debate among members around CBDCs and asking whether the existing fed now system could just be updated to have real-time settlement. It was a bit wonky, but still a pretty interesting preview of debates to come on a U.S. digital dollar. There was also as you would imagine some amount of discussion around crypto scams and cybercrime in the space. But there was an interesting shift in tone from previous hearings in that this was more forward looking and focused on solutions. Again, Mossad, for example, was saying basically that the CFTC should have more enforcement authority than it currently does. A subset of the crime discussion came around tax issues, which I would say that net of width is just better working with exchanges, which by the way, every exchange has been loud and public about the fact that they want that. Defy got a few mentions, but really just in the broader context of trying to let things grow before we squash them. And speaking of that, senator Ted Cruz came out hard again. He said the one thing that is capable of screwing this all up is the United States Congress, and I have deep concerns that Congress has already in the process of doing so. Cruz went ham on the broker provision in the infrastructure Bill, as well as the 6 zero 5 zero I provision change to the tax code. He reiterated his stance that Congress and the Senate just simply do not know enough to be legislating around these areas. And frankly, he's also putting threat behind words. On Tuesday, he introduced legislation to repeal the infrastructure bills, quote, devastating attack on the emerging cryptocurrency industry, which is his words. Like his original amendment proposal during the infrastructure Bill process, this would just rip that broker language out entirely. Now, overall, I just want to sum up this was not an aggressive anti crypto session. That wasn't even the subtext. Even around the most notable and contentious issues right now, which have to do with stable coins. There seems to me to be a growing awareness of the risk of losing this industry offshore that is counterbalancing more heavy handed tendency. There is also a growing sense that these really are issues that folks in Washington are going to have to understand and potentially if they do have an opportunity to win benefit from as well. I want to shift now to the infrastructure Bill for just a minute. Like I said, senator Ted Cruz has introduced legislation trying to peel back some of the excesses of that bill. Senator Cynthia lummis and Ron wyden also have their own legislation. And on top of all that, representatives, Patrick mchenry and Tim Ryan, a bipartisan pair also introduced a new bill to restrict the IRS definition.
"cynthia lummis" Discussed on The Breakdown with NLW
"The infrastructure Bill was one of the most defining events of Bitcoin's 2021. And really, for the crypto industry as a whole, it was a seminal moment in which The White House and their Senate allies tried to force a provision in that would redefine the meaning of broker in the context of the crypto industry. When we saw this language, many people thought at first it was just a mistake, a lack of understanding. It became clear pretty soon that it wasn't that the Treasury Department was trying to give itself extremely wide latitude, particularly around issues of stable coins and of defei. I've done numerous podcasts about the fight that ensued, a bipartisan group of senators came together to try to amend that particular provision. Another bipartisan group of senators offered their own competing provision, Janet Yellen was involved trying to whip people for the alternative provision. It was a whole thing, and we ended up delaying this bill by weeks. We then ran, however, into procedural issues and nothing was actually changed when push came to shove. So, last night, when Biden signed the infrastructure Bill, he signed that crypto provision into reality. There are people still fighting, and we're going to have a number of battles over the next couple of years before anything actually comes to fruition. One of those lines of attack is being pursued by senator Cynthia lummis and senator Ron wyden. Two of the biggest advocates for an amendment during the infrastructure Bill planning process. On Monday, they introduced legislation that would narrow the crypto broker clause. Basically trying to exempt the same people that amendments were trying to exempt like validators, non custodial hardware and software providers and protocol developers. Senator lummis said we need to be fostering innovation, not stifling it. If we're going to maintain America's position as the global financial leader. I'm proud to introduce this bipartisan bill to ensure that our tax system reflects the realities of digital assets and distributed ledger technology. It's clear that these folks are not giving up, but I have to say going back to catalytic factors for why investors might want to take some risk off right now. The infrastructure Bill really does create a new battle to fight. A new challenge that will be dogging us for the foreseeable future. So now we've got the Twitter CFO throwing cold water on being a new domino on the Bitcoin treasury thing. We've got perhaps recognition of the longest of the ensuing regulatory battle headed our way. That's maybe enough for some pause in the momentum of Bitcoin, but we had so much momentum going into last week with that big inflation print, right? Well, sort of, and that's the thing we need to talk about. Macro insecurity and mixed signals. Crypto Bobby rob pound tweeted this morning, inflation is basically front page news every single day now with a Wall Street article that reads in inflation denial, you're not alone in wanting to keep your budget the same. Americans haven't had to worry about inflation for decades. Some still aren't. That should be good for Bitcoin, right? We've been talking about how we saw big bump in the Bitcoin price on the inflation print news. But Bitcoin is actually quite divergent here. On the one hand there absolutely is that inflation hedge trade, a trade which tends to be pretty long term. In the short term, however, Bitcoin tends to also trade as a risk asset. And in general, there's been a move to risk off. The Wall Street Journal led this morning with Bitcoin price briefly drops below 60,000 as strong dollar ways on crypto. The piece points to market nervousness about not only inflation concerns, but also rising COVID-19 cases with winter coming, European restrictions,.
"cynthia lummis" Discussed on 860AM The Answer
"Consumer access to the corporate animal is number 13 35 record unless number six 233 Clousing London relations in Alaska, Hawaii Gorge in Massachusetts, not to go to South Dakota or you don't Ladies are taking the stage on Capitol Hill. There will be 118 women in the 117th Congress. 89 Democrats 29 Republicans. That's five Maura than the previous record of 25 back in 2000 and five While still in the majority. Democrats will have the slimmest margin of power in decades because most the seats lost in November were won by GOP women. The Senate will have only one new female member, this term Republican Cynthia Lummis of former representative from Wyoming. That's correspondent Rhonda Ross to rescue teams searching for survivors. Four days after a landslide carried away homes and a Norwegian village found no signs of life yesterday amid the ruins and debris three bodies have been recovered with searchers are still looking for seven more people believed to be missing. A landslide in the village of Ask is the worst in modern Norwegian history. It shocked citizens of the Nordic nation. Using analysis town hall dot com. I'm Michael Harrington. Disabled dog that went missing from Bourbon, Missouri in February, is reunited with its owner and the New Year 60 Miles away. We get the story from national correspondent Julie Walker Athena was recovering from having her back leg amputated after being hit by a car. When she disappeared from Dylan Summers yard. He thought she was gone for good. It turned out his friend with looking for a dog online and just happen to come across Europe contacted him. He's like, Hey, whatever happened your dog, Gateway Pet Guardians Program director Alicia Vianello. Says they posted Athena's picture on their website so she could be found or adopted. Everyone was super excited and I've talked to him a few times since then, and he's so happy and he's really thankful, and he said she's doing awesome. Vianello says They got Athena from animal control after she was rescued from a property last year, they took in more than 800 dogs and reunited 25 with owners. I'm Julie Walker more on these stories of town hall.