Oct 25, 2021
It is my opinion, and the opinion of many experts who have been working in the space for a long time, that the new US Crypto bill is flawed in many ways. The bill makes assumptions and proposes to impose regulations which, as I will explain today through a number of examples, are likely to cause problems for the US Crypto market.
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Today's episode:
[00:36] My overall view on the new US Crypto bill.
[01:08] Some key elements of this bill, and the impact it is intended to have.
[01:55] An assumption that the bill makes, which I think is flawed.
[02:39] How the bill changes the categorization of crypto tokens.
[04:25] Why I disagree with the broad categorizations of tokens under the new bill.
[04:49] An ambiguously worded provision in the bill which deals with stable coins.
[06:33] The lack of understanding around e-money in the US.
[07:11] How the bill approaches contracts that take longer than 24 hours to settle.
[07:39] What the bill proposes regarding anonymous features and platforms, and the changes that are already happening as a result.
[09:40] Examples of some of the other, relatively small, provisions in the bill.
[10:39] When this bill was introduced, and the responses that it has sparked.
[12:04] Why this bill, and the confusion around it, is good news for Europe.
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