Law & Policy

The Treasury Dept announced today that they won’t enforce the penalties or fines associated with Corporate Transparency Act reporting

Nerfing the CTA by removing its penalties is honestly the common sense decision here

It served no real end other than further rent extraction on small businesses in the name of expanding the already omnipresent surveillance state

A few people asked me why I think this so figured I’d share

There’s a lot of tailwinds for this trend:

- the maturing of the sector
- removal of a hyper aggro regulatory environment 
- high volatility of asset prices
-  limited supply of expertise
- an improved financing environment

general counsel @ 1kx // co-founder @ thing3 // summoner @ hydra ventures

Add in the current administration broadcasting leniency on ways of selling tokens, the resurgence of crowdfunding activity, and ongoing shift of the world to digital

The next few years might not be a smooth ride but it’s going to be an exciting one

It’s already starting at the more institutional end of the pool:

- Stripe acquired Bridge for $1.1B in Oct 2024

- Robinhood bought Bitstamp for $200M in June 2024

And don’t forget about the many projects that have expressed interest in going public

Last night, the President established a Strategic BTC Reserve – locking up forfeited BTC as a permanent* national asset

Some key points:

- BTC recognized as “digital gold”
- Agencies must transfer seized BTC to the Treasury within 30 days
- No sales permitted

What else? 🧵

/ted | exploring the onchain frontier | surfing @ venice, ca | eating @ gjusta / gjelina

https://warpcast.com/larryflorio.eth/0xca5c9678

more of this please

would love more of these plus commentary on strategic bitcoin reserve announcement today