Stablecoins, Web 3.0, and the Future of Crypto Regulation | Rep. Erin Houchin and Rep. Mike Flood

4 snips

Dec 23, 2024

Guest

Mike Flood

Guest

Erin Houchin

Rep. Erin Houchin represents Indiana's 9th District and serves on key financial committees, while Rep. Mike Flood is from Nebraska's 1st District with a focus on financial services. They dive into the mechanics of crypto, discussing how stablecoins could reshape finance and the implications of Web 3.0 for censorship and content creation. Topics include the geopolitical stakes of digital currencies, the future of local journalism in a decentralized world, and how regulatory frameworks can protect against financial fraud.

Ask episode

AI Snips

Chapters

Transcript

Episode notes

INSIGHT

Cryptocurrency and Digital Assets

Bitcoin, the first cryptocurrency, aimed to create a government-free currency.
Digital assets encompass more than just currency, including NFTs and electronic media.

ANECDOTE

NFTs as Beanie Babies

NFTs are compared to Beanie Babies due to their perceived collectible value.
Like Beanie Babies, the value of NFTs can be subjective and fluctuate.

INSIGHT

Stablecoins and U.S. Dollar Dominance

The U.S. dollar's status as the world reserve currency gives the U.S. significant global influence.
Stablecoins, pegged to the dollar, could help maintain this dominance in the face of competition from other countries.

Get the Snipd Podcast app to discover more snips from this episode

Get the app

Rep. Erin Houchin and Rep. Mike Flood join the show to discuss crypto policy in Congress and under the next Trump Administration. They give Rep. Crenshaw the 101 on how crypto works and how U.S. dollar-backed stable coins could change the financial system. And they look at the implications of Web 3.0 on censorship, content creators, financial fraud, and China’s global power moves.

· The beginning of the crypto movement

· NFTs: the beanie babies of the internet

· The Canadian Trucker Strike

· Gary Gensler – “a fountain of bad ideas at the SEC”

· Regulatory authority in crypto markets

· Stablecoins 101

· Geopolitical implications of stablecoins

· Disconnecting from the banks

· President Trump’s Crypto Czar

· Evolution of internet regulation

· Web 3.0

· Facebook’s stranglehold on content creators and local news

· The Hawk Tuah Coin Scam

· Cabbage Patch dolls!

· FIT 21 – the House’s answer to crypto regulation

· Explaining blockchain technology

· Will quantum computers break crypto?

· Stablecoins and financial fraud

· China’s move to control the global stablecoin

Congresswoman Erin Houchin represents the 9th District of Indiana. She currently serves on the House Financial Services Committee, the House Rules Committee, and the House Education and Workforce Committee. And she was recently appointed to serve on the House Energy and Commerce Committee in the 119th Congress. Follow her on X at @RepHouchin.

Congressman Mike Flood represents the 1st District of Nebraska. He currently serves on the Financial Services Committee as well as the Housing and Insurance Subcommittee and the Digital Assets, Financial Technology and Inclusion Subcommittee. Follow him on X at @USRepMikeFlood.

Listen to Rep. Crenshaw’s past episodes on Bitcoin with Rep. Patrick McHenry and Peter McCormack.