A recent WSJ piece, “Biden Races to Trump-Proof His Agenda,” speaks partially to why we should all expect significant regulatory action targeting the industry for the remainder of the year – but only part of the story. Two years ago one might have concluded that Congress was, if not friendly, then at least ambivalent toward Bitcoin, but Elizabeth Warren has changed that dynamic. I still believe most members are ambivalent, thus supporting Warren’s crusade earns them political chits while costing them nothing politically – hence the bipartisan support of the bill.
But in this current Congress, you might say, Warren’s legislation is going nowhere. Probably true.
But here’s the point many miss - without a political risk to candidates in tight races, partisan regulators are free to attack the industry w/o risking political damage. If candidates in key races started paying a political cost for their support of this crackdown, you’d see the heat on the industry promptly dissipate, as they kept their powder dry for what they hope will be a more sympathetic Congress next session.
The disadvantage people who actually believe in something bear is the conviction that, if others only understood, they would come around to your POV. Unfortunately politics functions differently – power and influence, this is what drives decision making. This is about as good a time as any to turn that conviction into a political voice. jack mallers (npub1cn4…3vle) jack (npub1sg6…f63m) ODELL (npub1qny…95gx) petermccormack (npub14mc…frlx)
Bayman11771 /
npub1k4…u4ftd
2024-05-07 18:40:56
Author Public Key
npub1k4resnvktz440jtyvd6cmrlxh84njv7ru69y0qxhx9jlq4p6zrmqwu4ftdPublished at
2024-05-07 18:40:56Event JSON
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"content": "A recent WSJ piece, “Biden Races to Trump-Proof His Agenda,” speaks partially to why we should all expect significant regulatory action targeting the industry for the remainder of the year – but only part of the story. Two years ago one might have concluded that Congress was, if not friendly, then at least ambivalent toward Bitcoin, but Elizabeth Warren has changed that dynamic. I still believe most members are ambivalent, thus supporting Warren’s crusade earns them political chits while costing them nothing politically – hence the bipartisan support of the bill. \n\nBut in this current Congress, you might say, Warren’s legislation is going nowhere. Probably true.\n\nBut here’s the point many miss - without a political risk to candidates in tight races, partisan regulators are free to attack the industry w/o risking political damage. If candidates in key races started paying a political cost for their support of this crackdown, you’d see the heat on the industry promptly dissipate, as they kept their powder dry for what they hope will be a more sympathetic Congress next session.\n\nThe disadvantage people who actually believe in something bear is the conviction that, if others only understood, they would come around to your POV. Unfortunately politics functions differently – power and influence, this is what drives decision making. This is about as good a time as any to turn that conviction into a political voice. nostr:npub1cn4t4cd78nm900qc2hhqte5aa8c9njm6qkfzw95tszufwcwtcnsq7g3vle nostr:npub1sg6plzptd64u62a878hep2kev88swjh3tw00gjsfl8f237lmu63q0uf63m nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx nostr:npub14mcddvsjsflnhgw7vxykz0ndfqj0rq04v7cjq5nnc95ftld0pv3shcfrlx\n",
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