Thread by @nlw

Panel 2 Expert Panel - Libra Hearings Day 2 - House Financial Services Committee pscp.tv/w/b_9k_TE0Nzc1…

Mr Gensler echoing numerous members of Congress saying "Trust us" isn't enough.

You might even say.....Don't Trust, Verify?

Weissman

"... a corporate surveillance titan the likes of which the world has never seen."

@Melt_Dem makes the KEY point that while the Bitcoin network is a utility akin to the network, Bitcoin businesses (and other crypto businesses) ARE subject to and regulated by their local jurisdictions.

@Melt_Dem Strongest voice yet saying "if we don't make it possible to build cryptocurrency businesses here, they'll be built elsewhere." @Melt_Dem

@Melt_Dem It is AMAZING the degree to which Powell's testimony that Bitcoin/crypto weren't a threat because no widespread adoption, but Libra is a threat - has stuck.

@Melt_Dem McHenry asks @Melt_Dem, basically, "Wtf do we need to do to give crypto entrepreneurs regulatory clarity to stay HERE?"

That's the right question.