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Unchained

Why Many Democrats, Including the White House, Have Come Around on Crypto - Ep. 652

May 28, 2024
Sheila Warren, CEO of the Crypto Council for Innovation, dives into the recent political changes regarding cryptocurrency legislation. She discusses how the overturning of SAB 121 and the FIT21 bill have shifted the White House's stance on crypto. Sheila highlights persuasive arguments that changed Democratic views and reflects on the lasting effects of the SBF and FTX scandals. With pride, she explains the implications of the FIT21 bill and the SEC's surprising approval of spot ETH ETFs, marking a pivotal moment for bipartisan collaboration in crypto legislation.
01:31:34

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • Bipartisan support for FIT21 highlights Democrats' evolving stance on crypto legislation.
  • Influential figures like Nancy Pelosi and Chuck Schumer's support signal a political shift.

Deep dives

Significant Bipartisan Support

The podcast episode highlights the significant bipartisan support garnered for the financial innovation and technology for the 21st century act, known as FIT 21, with 71 Democrats voting in favor of the comprehensive crypto legislation. This bipartisan support across moderate and progressive Democrats was deemed as rewarding and vital by the industry advocates, emphasizing the importance of not giving up on Democrats despite past challenges. The efforts to secure this bipartisan backing spanned not only the two weeks leading up to the vote but were recognized as a culmination of two years of persistent education and advocacy to emphasize the competitiveness and regulatory advancements brought forth by FIT 21.

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