New US Crypto Bill
It is my opinion, and the opinion of many experts who have been working in the space for a long time, that the new US Crypto bill is flawed in many ways. The bill makes assumptions and proposes to impose regulations which, as I will explain today through a number of examples, are likely to cause problems for the US Crypto market.
If you found value in this episode, I would really appreciate it if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies! If you are on Apple, just click here to review, select “Ratings and Reviews” and “Write a Review” and tell me what your favorite part of the podcast is.
Today’s episode:
- [00:36] My overall view on the new US Crypto bill.
- [01:08] Some key elements of this bill, and the impact it is intended to have.
- [01:55] An assumption that the bill makes, which I think is flawed.
- [02:39] How the bill changes the categorization of crypto tokens.
- [04:25] Why I disagree with the broad categorizations of tokens under the new bill.
- [04:49] An ambiguously worded provision in the bill which deals with stable coins.
- [06:33] The lack of understanding around e-money in the US.
- [07:11] How the bill approaches contracts that take longer than 24 hours to settle.
- [07:39] What the bill proposes regarding anonymous features and platforms, and the changes that are already happening as a result.
- [09:40] Examples of some of the other, relatively small, provisions in the bill.
- [10:39] When this bill was introduced, and the responses that it has sparked.
- [12:04] Why this bill, and the confusion around it, is good news for Europe.
Show links:
- Interested in FinTech compliance? — Consider investing in the FinTech Compliance Self-Starter Package!
- I would love to invite you to sign up for my newsletter. If you are interested, please click here.