The Consequences of the Restrict Act

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All of the bureaucracy, everything from the Attorney General down to the Securities and Exchange Commission is an extension of the power vested in the presidency. And think how much that's grown. While the courts have grown they've kind of been somewhat static. So it really is kind of creepy how much power this administrative state continues to seek and already has.

Today's episode is with Representative Warren Davidson, an outspoken member of the U.S. Congress and an advocate for cryptocurrency.

In today's show, we cover: 1) Why is Rep. Warren Davidson trying to fire Gary Gensler? 2) What is the “SEC Stabilization Act?” 3) Is the U.S. losing ground to Europe, Japan, and Hong Kong? How can it catch up? 4) Does Congress care enough about crypto to do something about it? How can we change that?

As a reminder, Bankless is not a political podcast that divides on red/blue lines. We have no party affinity in the U.S. or any other nation. What we do care about is the values of decentralization, autonomy, and power to the people that underly this crypto technology. To the extent these values are political, so are we. But they don’t divide on party lines. We’ll continue to give voice to these values no matter what political party they come from.

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------ TIMESTAMPS

0:00 Intro 5:25 #FireGaryGensler 10:36 Why Gary Hates Crypto 14:00 How Political Governance Works 23:20 Presidential Jurisdiction 25:45 SEC Stabilization Act 31:55 Does the U.S. Have Hope? 36:09 Closing & Disclaimers

------ RESOURCES https://twitter.com/WarrenDavidson/status/1674519201170485249 https://twitter.com/WarrenDavidson/status/1668305460368121857

------ Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: ⁠https://www.bankless.com/disclosures⁠