We Study Billionaires - The Investor’s Podcast Network BTC103: Bitcoin Policy Update w/ Jason Brett (Bitcoin Podcast)
Nov 9, 2022
In this discussion, Jason Brett, a leading expert on Bitcoin policy and regulation, unpacks crucial legislative developments affecting cryptocurrency. He dives into the Lummis-Gillibrand Bill and the Digital Commodities Consumer Protection Act of 2022, exploring their potential impact on market regulation. Brett also shares insights into the White House’s approach to crypto-assets and consumer protection, as well as the implications of Central Bank Digital Currencies (CBDCs). It's an eye-opening conversation about the future of digital finance!
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DCCPA vs. Lummis-Gillibrand
- The DCCPA mandates CFTC registration for all US exchanges trading in spot markets.
- This differs from the Lummis-Gillibrand bill, which proposed an optional CFTC regime.
DCCPA Momentum
- The DCCPA has more momentum than the Lummis-Gillibrand bill due to key Senator support.
- This support includes the chair and ranking member of the Agriculture Committee, along with other influential senators.
CFTC's Power Over Bitcoin
- The DCCPA grants the CFTC power to regulate Bitcoin spot prices and potentially halt trading.
- This raises concerns about the extent of regulatory oversight and market manipulation possibilities.