So, What’s the Tea on Crypto Week?
- Senator Tim Scott is leading the charge on digital asset regulations, but let’s be real, it’s not like it’s going to save the USD from its inflationary woes π€¦ββοΈ.
It’s “Crypto Week” in the United States, and the House is making moves on digital asset legislation ποΈ. The Senate Banking Committee, led by Senator Tim Scott, is trying to get its act together on regulations for digital assets πΈ.
Senator Scott has teamed up with Senator Cynthia Lummis, a longtime Bitcoin fan girl π, to make sure America stays on top of the crypto game π.
Lummis is all about keeping the US in the lead when it comes to crypto and Web3 innovation π».
The Deets on the Digital Assets Hearing
The hearing was all about reducing regulatory uncertainty and getting a better grasp on blockchain tech π€.
Senator Scott was all, “Hey, let’s not worry about crypto being used for nefarious purposes π ββοΈ,” and economist Jonathan Levin was like, “Yeah, illicit activity is less than 1% of what’s going on in these blockchains π.”
βItβs far easier to track something that has a digital footprint than something that does not.β – Senator Tim Scott π
Levin also pointed out that thousands of investigations have captured criminal proceeds thanks to blockchain’s transparency π.
Summer Mersinger, CEO of the Blockchain Association, was all, “Traditional bank regulations just aren’t cutting it π«,” and warned that without some tailored rules, innovators will be heading offshore π«οΈ.
Everyone’s all about finding a balance between innovation, enforcement, and American values π€.
What the Other Bigwigs Had to Say
There was a lot of talk about strengthening the US dollar‘s role in the global financial system πΈ.
Officials were all, “Hey, if we don’t get on board with new tech, the dollar’s gonna lose its dominance π.”
Lark Davis, a big-time Bitcoin investor, was like, “Uh, the US dollar’s lost 90% of its purchasing power since 1971 π, but sure, let’s worry about Bitcoin being risky π.”
βThe US dollar has lost 90% of its purchasing power since 1971. Bitcoin has gained over 200 million percent in the past 15 years. But sureβ¦ Bitcoin is the risky one.β – Lark Davis π
So, yeah, it’s time for some digital asset regulations, because fiat currencies just can’t keep up with inflation π€―.
Read More
- HYPE PREDICTION. HYPE cryptocurrency
- USD KRW PREDICTION
- STETH PREDICTION. STETH cryptocurrency
- PEPE PREDICTION. PEPE cryptocurrency
- DOGE PREDICTION. DOGE cryptocurrency
- QNT PREDICTION. QNT cryptocurrency
- TRX PREDICTION. TRX cryptocurrency
- EUR HKD PREDICTION
- XRP PREDICTION. XRP cryptocurrency
- ADA PREDICTION. ADA cryptocurrency
2025-07-10 20:11