Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n
Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n
In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n
Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n
In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n \"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n \"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n \"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n \"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n \"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n \"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n \"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n \"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n \"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n \"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n \"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n \"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n \"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n \"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n \"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n \"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n \"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n \"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n \"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n \"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\nMarket Stability And Opposition<\/h2>\n\n\n\n
Market Stability And Opposition<\/h2>\n\n\n\n
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Market Stability And Opposition<\/h2>\n\n\n\n
Market Stability And Opposition<\/h2>\n\n\n\n
More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n
Market Stability And Opposition<\/h2>\n\n\n\n
More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n
Market Stability And Opposition<\/h2>\n\n\n\n
More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n
Market Stability And Opposition<\/h2>\n\n\n\n
More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n
Market Stability And Opposition<\/h2>\n\n\n\n
More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n
Market Stability And Opposition<\/h2>\n\n\n\n
More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n
Market Stability And Opposition<\/h2>\n\n\n\n
More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n
Market Stability And Opposition<\/h2>\n\n\n\n
More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n
Market Stability And Opposition<\/h2>\n\n\n\n
More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n
Market Stability And Opposition<\/h2>\n\n\n\n
Crypto regulation status in the U.S.<\/h2>\n\n\n\n
More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n
Market Stability And Opposition<\/h2>\n\n\n\n
Crypto regulation status in the U.S.<\/h2>\n\n\n\n
More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n
Market Stability And Opposition<\/h2>\n\n\n\n
Crypto regulation status in the U.S.<\/h2>\n\n\n\n
More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n
Market Stability And Opposition<\/h2>\n\n\n\n
Crypto regulation status in the U.S.<\/h2>\n\n\n\n
More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n
Market Stability And Opposition<\/h2>\n\n\n\n
Crypto regulation status in the U.S.<\/h2>\n\n\n\n
More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n