Congress is perhaps the most destructive force on the planet.
If ever there was an argument against democracy it would be The American Congress.
The same people wielding the law as an instrument of legal plunder, and robbing you and I of our money at gunpoint, while they vote to raise their salaries, will meet next week to discuss how to regulate the crypto industry.
I got news for the parasites in Washington: we don’t want nor need your regulations, oversight, opinions, dictates or any of you in general.
Many fear that they will continue to target the crypto industry with crippling taxes, undue regulation, and cause more problems.
I agree with this sentiment due to the fact that they are a cancer, and everything they touch becomes poisoned.
Here’s what people are saying:
Joint congressional committee to discuss regulating crypto and digital assets next week…
So if they fuck the crypto market because their greed can we finally revolt as a people?
— joe (@JoeWalsh117) November 11, 2021
— Vince Quill (@VinceQuill) November 12, 2021
The Block Crypto had more details:
The hearing, entitled “Demystifying Crypto: Digital Assets and the Role of Government,” will take place in the Cannon House Office Building in Washington, D.C. at 2:30 p.m. EST. The Joint Economic Committee’s YouTube channel will also stream the hearing online.
The committee’s chairman, Representative Don Beyer (D-VA), will preside over the hearing. He introduced a bill in July focused on regulating digital assets.
To the extent that private crypto currencies co-exist with a digitized dollar they will only really have value in U.S. dollar terms to the extent that they can be freely swapped for U.S. digital dollars i.e. comply with AML/KYC bank regulations and IRS reporting
— Twain's Mustache (@TwainsMustache) November 11, 2021
A boom in real estate & crypto have created varying degrees of independence from government through growth in personal wealth & security in Canada & the U.S. The left require a fearful & dependant populace – they are coming for your home & investments – taxes, laws, regulations. pic.twitter.com/WOEPRZFkhc
— THEBCHOMEHUNTERGROUP (@BCHOMEHUNTER) November 8, 2021
In a related report, Crypto Potato mentions that The SEC is asking DeFi operations to ‘reach out’:
SEC Commissioner Caroline Crenshaw has published a “Statement on DeFi Risks, Regulations, and Opportunities” on November 9, advising decentralized finance platforms to contact them.
In it, she acknowledged that crypto is now part of the vernacular, whether on news, social media, entertainment, and in investment portfolios.
In an effort to clarify the regulatory status of DeFi in the U.S., the report stated that many DeFi products closely resemble those in the traditional financial marketplace.
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