Ryan Sean Adams (rsa.eth) on Warpcast

Ryan Sean Adams (rsa.eth) pfp

Ryan Sean Adams (rsa.eth)

Biden Administration says it will veto legislation to allow banks to actually custody crypto - it would “disrupt the SEC’s work to protect investors” This will cost them votes. If they’re doing this before Nov I’m scared for what comes after Nov. Seems they no longer care.

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Giuliano Giacaglia pfp

Giuliano Giacaglia

They are coming after crypto because this administration is paid by big banks

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James pfp

I don’t know how many people here watched the house hearings in 2022 after ftx took a shit but the republicans were by far more aligned with blockchain and self custody than any of the democrats. Their focus was on diversity hiring, no fdic insurance, transaction anonymity, tax avoidance. Zero crypto comprehension.

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Dean Pierce 👨‍💻🌎🌍 pfp

Dean Pierce 👨‍💻🌎🌍

@deanpierce.eth

I saw something along the lines of how the rule is more about ensuring that if banks lose the keys to your crypto, or get hacked, they would be liable for damages. This proposed legislation would remove that liability for banks so if they fuck up, it's on you, which doesn't seem great.

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Monteluna pfp

Who cares? Crypto natives need to be supporting floatcoins like Rai and Hai. Not sure where we lost the plot where we need to care about whether banks can custody and generate stables. Crypto is peer to peer.

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Jeff S pfp

dont do it Dem or your going to lose good votes... i wont vote for the Orange assclown but I will miss the polls and that is not Democracy.

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Maxx Profitt pfp

SAB 121 doesn't stop banks from holding crypto. It ensures they transparently disclose risks and obligations when safeguarding customer's crypto assets, aiming for better investor and stakeholder communication.

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timdaub pfp

I don‘t understand why people care. Why would banks want to custody crypto? This entire technology was built to move banks, yet the common argument of Americans is bank and tradFi friendly regulation

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JGrav pfp

Thanks for continuing to point this stuff out. I think it is important to continually expose how one party specifically is anti crypto as elections approach. Not sure how someone in crypto can vote for a party that has shown themselves to be so anti-crypto.

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Distinguished Degenerate pfp

Distinguished Degenerate

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Aaron Blaisdell / ittybit 533 pfp

Aaron Blaisdell / ittybit 533

@aaronblaisdell

oh God is this such a huge step backward that the current administration is taking. So disappointing.

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