Rep. Warren Davidson: 'I Think Bitcoin Is a Great Store of Value' - Ep.176
Unchained
Intro
The host introduces exciting updates including the new video format and a listener survey with a chance to win prizes. She also discusses hiring for an editorial assistant position and the role of sponsorships from Crypto.com and Stellar in the podcast.
U.S. House Representative, Warren Davidson, contextualizes the state of crypto legislation in terms of widespread civil unrest, COVID-19, and global shifts in power. He explains where crypto plays a role in these paradigm shifts and talks about:
- Why he believes in crypto, and how he came into the space
- How his Token Taxonomy Act creates regulatory clarity for token issuers
- What four conditions tokens would have to meet to not be considered securities
- Other features of the Token Taxonomy Act, including a de minimus exemption for taxes and no taxation of crypto-to-crypto trades
- How the pandemic and coronavirus-related fiscal stimulus affects the prospects for the Token Taxonomy Act
- What he thinks about China's blockchain push and its DCEP digital yuan
- Whether and how that creates a credible threat to US dominance in global markets
- Whether Libra could be a counterweight
- How a shift toward digital currencies could undermine the global reserve status of the USD and whether that affects the US's ability to enforce sanctions
- How outcomes of the upcoming election will affect the potential passage of crypto-friendly regulation
- Why it is easier for crypto legislation to be more bi-partisan than other bills
- What help he needs from the industry right now to push along crypto-friendly bills
Thank you to our sponsors!
Crypto.com: https://crypto.com
Kelman Law: https://crypto.law
Stellar: https://www.stellar.org
Episode links:
Rep. Warren Davidson: https://twitter.com/WarrenDavidson
His House page: https://davidson.house.gov
Press release on the Token Taxonomy Act: https://davidson.house.gov/media-center/press-releases/token-taxonomy-act-address-blockchain-innovation-flight-america
Token Taxonomy Act on GovTrack: https://www.govtrack.us/congress/bills/116/hr2144
Text of the Token Taxonomy Act: https://www.govtrack.us/congress/bills/116/hr2144/text
Letter requesting IRS clarify some crypto tax policies: https://www.coindesk.com/us-lawmakers-ask-irs-to-clarify-crypto-tax-rules-around-airdrops-forks-in-new-letter
Congressman Patrick McHenry on Unchained discussing his “permanent beta testing” idea for crypto: https://unchainedpodcast.com/congressman-patrick-mchenry-bitcoin-will-be-of-enormous-value/
Unchained interview on the DCEP: https://unchainedpodcast.com/why-china-aims-to-replace-cash-with-the-digital-yuan/
Unchained interview with Libra co-creator Christian Catalini: https://unchainedpodcast.com/a-libra-co-creator-on-how-facebook-will-make-money-from-calibra/
Unchained with Christopher Giancarlo on his proposal for a digital dollar: https://unchainedpodcast.com/christopher-giancarlo-on-the-craziness-of-becoming-crypto-dad/
Secretary Steve Mnuchin on Libra and a digital dollar: https://www.bloomberg.com/news/articles/2019-12-05/mnuchin-powell-see-no-need-for-fed-to-issue-digital-currency
Video in which Rep. Davidson says “shitcoin”: https://www.coindesk.com/lawmakers-amp-up-pressure-on-facebook-to-halt-libra-cryptocurrency-development
Meltem Demirors and Jill Carlson on the Shitcoin Waterfall on Unchained: https://unchainedpodcast.com/meltem-demirors-and-jill-carlson-on-the-shitcoin-waterfall-ep-74/taxes
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