The Wolf Den #128 - Legislators Are Paying Attention To Crypto
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This newsletter is sponsored by PHEMEX, the only exchange that I use to trade crypto with leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out - you know that I never endorse a product that I do not use!Yesterday, US Congresswoman Rashida Tlaib and other government officials proposed a bill called the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act in order to "protect" vulnerable consumers from stablecoins by implementing strong regulations on stablecoin issuers. The act aims to “protect consumers, specifically low and moderate-income from bad actors.” It goes on to claim that “shadow money issuers are targeting vulnerable people specifically those of color.”Give me a f*cking break.This legislation is appallingly misguided. If people are using stablecoins, it probably means that they are dissatisfied with legacy systems that fail to serve their needs. Tlaib's proposed law would eliminate the little monetary freedom coveted by the very people she claims to be protecting. Further, it would strengthen the death grip held by banks, who ACTUALLY have predatory policies and are underserving the poor. The legislation could require SERIOUS clearance for stablecoin issuers to operate including “banking charters, FED approval, banking guidelines, FDIC insurance, and other aggressive watchdog supervision."They want to TURN STABLECOINS INTO BANKS!The hypocrisy of this proposition is enough to send a rational human being to the psych ward. Either Tlaib and her cronies are utterly ignorant of the purpose of cryptocurrencies, or they are willfully doing the bidding of the bank lobby under the guise of "stopping racism."Who would this law really help? The BANKS, by eliminating competition and forcing stablecoin issuers to compete with the existing oligopoly.Leave it to American politicians to make stablecoins and cryptocurrency a racial issue and to harm the people who pay their salaries.Legislation experts chimed in, commenting that the legislation won’t pass soon but will more than likely return next year revised based on initial feedback.Original report: https://tlaib.house.gov/media/press-releases/tlaib-garcia-and-lynch-stableactNothing has changed on Bitcoin - it is sideways. No need to update the analysis from yesterday.Tonight at 8:30 PM EST I am going live on YouTube with my friend and newsletter contributor Altcoin Psycho! He has shared countless profitable trades here and an amazing discount on his trading bot. We are going to share charts, chat about markets and just generally shoot the sh*t. Come join us, hang out, engage.Here's the link: https://youtu.be/_d7IySE2RFsIn This Issue:Altcoin ChartsLegacy MarketsChart ReviewsS&P Dow Jones Launching Crypto IndexesBlackRock CEO Makes Positive Statements About CryptoNigel Farage Sings Bitcoin's PraisesInflation Up, Dollar Down, Bitcoin UpThe Wolf Of All Streets Podcast Ft. Cyrus FazelMy Recommended Platforms And Tools
The Wolf Den #128 - Legislators Are Paying Attention To Crypto
The Wolf Den #128 - Legislators Are Paying…
The Wolf Den #128 - Legislators Are Paying Attention To Crypto
This newsletter is sponsored by PHEMEX, the only exchange that I use to trade crypto with leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out - you know that I never endorse a product that I do not use!Yesterday, US Congresswoman Rashida Tlaib and other government officials proposed a bill called the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act in order to "protect" vulnerable consumers from stablecoins by implementing strong regulations on stablecoin issuers. The act aims to “protect consumers, specifically low and moderate-income from bad actors.” It goes on to claim that “shadow money issuers are targeting vulnerable people specifically those of color.”Give me a f*cking break.This legislation is appallingly misguided. If people are using stablecoins, it probably means that they are dissatisfied with legacy systems that fail to serve their needs. Tlaib's proposed law would eliminate the little monetary freedom coveted by the very people she claims to be protecting. Further, it would strengthen the death grip held by banks, who ACTUALLY have predatory policies and are underserving the poor. The legislation could require SERIOUS clearance for stablecoin issuers to operate including “banking charters, FED approval, banking guidelines, FDIC insurance, and other aggressive watchdog supervision."They want to TURN STABLECOINS INTO BANKS!The hypocrisy of this proposition is enough to send a rational human being to the psych ward. Either Tlaib and her cronies are utterly ignorant of the purpose of cryptocurrencies, or they are willfully doing the bidding of the bank lobby under the guise of "stopping racism."Who would this law really help? The BANKS, by eliminating competition and forcing stablecoin issuers to compete with the existing oligopoly.Leave it to American politicians to make stablecoins and cryptocurrency a racial issue and to harm the people who pay their salaries.Legislation experts chimed in, commenting that the legislation won’t pass soon but will more than likely return next year revised based on initial feedback.Original report: https://tlaib.house.gov/media/press-releases/tlaib-garcia-and-lynch-stableactNothing has changed on Bitcoin - it is sideways. No need to update the analysis from yesterday.Tonight at 8:30 PM EST I am going live on YouTube with my friend and newsletter contributor Altcoin Psycho! He has shared countless profitable trades here and an amazing discount on his trading bot. We are going to share charts, chat about markets and just generally shoot the sh*t. Come join us, hang out, engage.Here's the link: https://youtu.be/_d7IySE2RFsIn This Issue:Altcoin ChartsLegacy MarketsChart ReviewsS&P Dow Jones Launching Crypto IndexesBlackRock CEO Makes Positive Statements About CryptoNigel Farage Sings Bitcoin's PraisesInflation Up, Dollar Down, Bitcoin UpThe Wolf Of All Streets Podcast Ft. Cyrus FazelMy Recommended Platforms And Tools