1/ Why didn't market prices react to the terrible crypto provision in the infrastructure bill in the US?
IMO, because the main signalling was ultra bullish. Crypto has become a political force. And, frankly, we have a lot to learn from that in Europe.
wsj.com/articles/bitco…
IMO, because the main signalling was ultra bullish. Crypto has become a political force. And, frankly, we have a lot to learn from that in Europe.
wsj.com/articles/bitco…
2/ How the crypto industry was able to organize itself and make its voice heard in DC was one of the most bullish long term signals ever. Many see political and regulatory headwind as one of the major long term risks: “What happens if politicians just outright ban crypto?”
3/ The industry’s capacity to delay this bipartisan, $1 trillion dollar bill – probably the largest legislative project during the Biden-administration – over a "mere" tax clause shows how implausible & unfeasible such a political threat has become. There are several reasons why
4/
crypto has become a political force in the US.
1. Large and passionate user base of 50+ m people holding crypto
2. Economic importance of crypto businesses employing thousands of Americans – like publicly traded @coinbase or @krakenfx, @Gemini etc.
crypto has become a political force in the US.
1. Large and passionate user base of 50+ m people holding crypto
2. Economic importance of crypto businesses employing thousands of Americans – like publicly traded @coinbase or @krakenfx, @Gemini etc.
5/
3. Deep integration of crypto into mainstream culture thanks to celebrities with huge followings on social media like @elonmusk, @jack, @aplusk, @FloydMayweather, @lexfridman, @TomBrady, @ParisHilton etc.
3. Deep integration of crypto into mainstream culture thanks to celebrities with huge followings on social media like @elonmusk, @jack, @aplusk, @FloydMayweather, @lexfridman, @TomBrady, @ParisHilton etc.
6/
4. Powerful lobby organizations like the @BlockchainAssn, @coincenter, @EFF (@jchervinsky, @KMSmithDC, @jerrybrito, @valkenburgh, @NeerajKA & many others) that were able to collaborate and join forces
4. Powerful lobby organizations like the @BlockchainAssn, @coincenter, @EFF (@jchervinsky, @KMSmithDC, @jerrybrito, @valkenburgh, @NeerajKA & many others) that were able to collaborate and join forces
7/
5. High level politicians in public institutions as vocal supporters such as @RonWyden, @SenLummis, @SenToomey or @FrancisSuarez
6. Ability to organize very quickly through SM & podcasts (@BanklessHQ, @Unchained_pod, @APompliano) & mobilize existing/active communities
5. High level politicians in public institutions as vocal supporters such as @RonWyden, @SenLummis, @SenToomey or @FrancisSuarez
6. Ability to organize very quickly through SM & podcasts (@BanklessHQ, @Unchained_pod, @APompliano) & mobilize existing/active communities
8/
In Europe, we are lagging far behind in terms of mainstream adoption, economic importance, cultural integration, lobbying power, political supporters & ability to organize. We should look closely at what happened and try to learn and replicate as much as possible.
In Europe, we are lagging far behind in terms of mainstream adoption, economic importance, cultural integration, lobbying power, political supporters & ability to organize. We should look closely at what happened and try to learn and replicate as much as possible.
9/
We need pan-European crypto communities. We need bigger crypto companies – @bitpanda seems like a promising candidate. We need more mainstream celebrities and professional politicians as vocal supporters. And – and this is also on us at @bitkom_block - we need
We need pan-European crypto communities. We need bigger crypto companies – @bitpanda seems like a promising candidate. We need more mainstream celebrities and professional politicians as vocal supporters. And – and this is also on us at @bitkom_block - we need
10/
a way better collaboration and unified strategy & voice between European crypto lobby organizations such as @INATBA_org, @BlockchainforEU, @EUBLASORG, @adan_asso, @bundesblock, @CryptoUKAssoc, @thecryptovalley, @bitkom_block
a way better collaboration and unified strategy & voice between European crypto lobby organizations such as @INATBA_org, @BlockchainforEU, @EUBLASORG, @adan_asso, @bundesblock, @CryptoUKAssoc, @thecryptovalley, @bitkom_block
11/
Looking at the recently proposed @EU_Commission AML rules and their implications for unhosted wallets and DeFi, we might need all that sooner rather than later..
Looking at the recently proposed @EU_Commission AML rules and their implications for unhosted wallets and DeFi, we might need all that sooner rather than later..
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