Last year the Lummis-Gillibrand Responsible Financial Innovation Act set the template for comprehensive crypto legislation. Now, the act has been reintroduced but there are some changes the community doesn’t love.
On Friday, the chairs of the House Financial Services Committee and the Agriculture Committee shared draft legislation that is meant to comprehensively deal with the thorniest issues of crypto regulation, including securities-commodities designation. NLW gives a 101 on what the bill says, and what comes next.
On today’s episode, NLW examines recent interviews with Republican congressional leaders including Representatives Patrick McHenry, Tom Emmer, Warren Davidson and French Hill, around the state of crypto in Washington, D.C. NLW argues that the key plans and talking points are pretty clear when the interviews are looked at as a whole.
Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26–28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com.
–
“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Swoon” by Falls. Image credit: Anna Moneymaker/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.
Video Suggestions for Beginners to Crypto:
– When did Crypto Start?: youtu.be/rd5gv6X70ew
– Why Bitcoin?: youtu.be/GVwWwWUj3NU
– 3 Mistakes to Avoid When Storing Cryptos: https://www.youtube.com/watch?v=rhhu3Uh8iHE
– If Your Hardware Wallet is Lost or Stolen: youtu.be/KTIDY7kYSIQ
– Complete Guide to Ledger Nano X: youtu.be/PC60Ju_iMQE
– Proper Introduction to Crypto Exchanges: youtube.com/watch?v=91f-QNSmzrA
– 3 Things You Should Never Do on a Crypto Exchange: youtu.be/pgZP-voLGpE
– 5 Things Crypto Exchanges Don’t Want You to Know: youtu.be/_VcdEovm8u8
– My Recommendations for Centralized Exchanges: youtu.be/kCYj2tdYufE
– My Recommendations for Decentralized Exchanges (DEX): youtu.be/AMsp3knAfBs
– Calling Out Fake DEXs: youtu.be/h_cZyGqjKrs
– Why is DeFi the Hottest Topic in Crypto?: youtu.be/mqdD_2rX4-0
– Without This, Crypto Won’t Survive: youtu.be/Jg-zk_Nhpq0
– How To Use the Most Popular Privacy Coins: youtu.be/WLckSKzFpE8