More Bad Bitcoin and Crypto Regulation

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There is a proposal put forth that says the US government should adopt the regulatory environment of New York.

In this video I discuss how BitLicense is a bad deal and pushing it to the federal level would be fatal. The linked article takes the same stance.

Article mentioned in the video:

https://bitcoinmagazine.com/takes/democrats-propose-more-bad-bitcoin-and-crypto-regulation

▶️ 3Speak

leofinance bitlicense newyork crypto mancave neoxian
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Oh man, what a nightmare. New York’s BitLicense already makes it hard for crypto businesses, taking that nationwide would be a disaster. The government needs to encourage innovation, not strangle it with red tape. Bad idea all around.

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It would be. Fortunately, I dont think it has a chance in hell of getting any traction.

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New York regulations would be rough. I've spent years spinning up addresses in other states just to get around New York. On the other hand, you've gotta give props to Gemini and Paxos. These are two pillars of crypto that have persisted as NY trust companies. It gives me added confidence in the Gemini exchange and the $PAXG I carry for my gold proxy.

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Democrats should stop proposing such regulations on Bitcoin.

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That appears the stance they took as a party. They appear to be abtui-crypto.

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. . . I’m a resident of New York State and have experienced firsthand the damage that politicians and bureaucrats have done to the Bitcoin and crypto industry in the state.

Ungrateful and clueless Democrats should listen to their more informed colleagues.

!LOLZ

!PIZZA

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