Uh Oh. Your Uncle Just Got a Fresh Excuse To Talk Politics and Crypto at Thanksgiving…

TL;DR

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Most politicians love to hate crypto.

Even if they don’t, the broader conversation is often focused on how to best regulate digital assets.

We get it.

You have to have rules on the playground so a kid doesn’t break their leg…

But, what does this have to do with me?

Policies on how to classify crypto, NFTs and other digital assets will impact your taxes, purchasing patterns – and more largely, will impact the growth of the Blockchain and Web3 Industry.

In fact, Coinbase has been leading a Policy Program that is advocating for people across the world to talk to their gov’t officials, help debunk falsities and educate the general population on the benefits of embracing digital assets.

“I thought we were talking about Politicians?!” – You

Correct, so yesterday Vivek Ramaswamy shared his crypto plan.

Making him the only GOP candidate with a plan.

Some Takeaways:

• Crypto is a Financial Innovation in Ramaswamy’s view.

• Tokens/coins would be classified as commodities in a regulatory sense (which would greater support innovation).

• Stablecoins would get the same type of access to the Federal Reserve that incumbent banks do. (Presidents don’t run the Federal Reserve, but can ask them to move in their favor).

• The right to own assets in self-custody wallets would fall under the First Amendment and be a right to Independence in the digital age.

Here’s hoping these kind of policies get adopted on both sides of the aisle.