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Alex
@alexpopovic
Immediate reaction to the Crypto4Harris townhall that just wrapped. Disclaimer because apparently I need one in every post - I am an independent that believes Web3 needs to be a bipartisan issue in the US. I am aware it is campaign season and I was not born yesterday. I will withhold personal opinions on any of the content of this post at this time - this is meant to be informational. The speakers lineup was predominantly politicians - Senators, Representatives, and actively running candidates for both houses of Congress. The most commonly mentioned reasons for needing to create a good cryptocurrency and blockchain technology environment in the US were:
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Alex
@alexpopovic
1. The need to foster and promote innovation in the United States instead of continuing to push it overseas. This was stated by nearly every single speaker. 2. The threat to national security posed by allowing the US to continue to get left behind when it comes to Web3. This was a major focus. 3. The opportunity for jobs creation in the States by allowing the industry to grow and thrive here. This was mentioned by several speakers. 4. The ability for investors to exercise their own freedom to invest in the things they want. This was mentioned by several speakers. 5. The ability for people to own and custody their own assets needs to be protected. This was mentioned by the panel of hosts and industry leaders, but was not mentioned by the political speakers.
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Alex
@alexpopovic
Many of the Congresspeople on this call noted that they are actively hearing from constituents in their districts that are unhappy with the way the Biden administration has approached crypto thus far - out reach works - keep doing it. Senator Schumer wants to see a bill pass the Senate by the end of the calendar year, this was echoed by Senators Stabenow and Gillibrand. Senator Stabenow also indicated that a bill had been introduced with bipartisan support earlier this summer but through the games of Washington it was not put before committee vote before the recess. Sen Stabenow also said that she believed that the CFTC should be involved in the regulation of this industry. There was a clear fear from all the politicians on the call that the US with particular blame on the SEC for not doing a good job executing their objective of investor protection, and that ultimately the US investor and tech enthusiast is suffering because of it.
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Alex
@alexpopovic
It is clear that there is a great deal of Democratic support in both houses of Congress that extends to party leaders. The speakers withheld any ill speak of Pres. Biden's actions except to point out that it was disappointing to see SAB121 be vetoed. There was a great sentiment from Shomari Figures (who is currently running for Congress) which can be paraphrased to say "policy means significantly less if it is written without the input and support from industry leaders in the blockchain technology space".
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