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Bitcoin’s Future

  • August 1, 2024

I keep being asked every day how I foresee the future of bitcoin

Well… as we head to the polls this fall, I believe our decision regarding who will lead our country will also determine the fate of #crypto here in the United States. Our security, prosperity, and freedom are at stake.

The contrast between #Democrat and #Republican approaches to crypto is stark.

The #Biden Administration has repeatedly demonstrated its hostility to crypto by refusing to provide a basic regulatory framework for the industry, while simultaneously taking enforcement actions against firms for allegedly violating nonexistent rules. Democrats have in fact taken extreme measures to stifle the adoption of crypto in the traditional financial system. Altogether, the Biden Administration’s record makes clear what another four years of Democrat political control would bring more political persecution of the industry on a scale reminiscent of #Obama’s Operation Chokepoint.

In contrast, Republicans have taken concrete steps to develop constructive crypto policies that exemplify the party’s longstanding commitment to the principles of innovation, free enterprise, and individual liberty. House Republicans have passed promising bills that would provide legislative clarity for crypto market structure and for U.S.-Dollar-denominated private stable coins. Republicans in both chambers have worked together to try to overturn Biden’s most egregious policies, address concerns about illicit finance, promote private-sector innovation in stable coins, and prevent the development of a central bank digital currency. Republican control of #Congress and the #WhiteHouse would enable the #GOP to expand and implement these efforts, finally delivering constructive rules of the road for crypto and ending Biden’s oppressive regime of regulation by enforcement.
If Republicans don’t stop Democrats from trying to crush crypto in America, the consequences could be dire.

Four more years of hostility will force even more crypto innovators offshore. Prominent U.S. exchanges have already started opening businesses in other countries, seeking licenses in foreign jurisdictions, and shuttering their U.S. operations.

No matter how much the status quo may frustrate us, the truth is that elections offer us the best opportunity to change course and get our country’s policies back on track.

This November, we must make our voices heard and send our elected representatives to Washington with a clear mandate: Secure a future for crypto in America.

Come to the Financial Policy Council https://lnkd.in/eZU2UgYd, be a part of decisions that will shape your future & share your thoughts.

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Hedge Fund Group (HFG)
Stanford Silverman
Tom Ash
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Antony Ponnaiya
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