056 - New US Crypto Bill

<p><span style="font-weight: 400;">It is my opinion, and the opinion of many experts who have been working in the space for a long time, that the new US Crypto bill is flawed in many ways. The bill makes assumptions and proposes to impose regulations which, as I will explain today through a number of examples, are likely to cause problems for the US Crypto market.</span></p> <p><span style="font-weight: 400;">If you found value in this episode, I would really appreciate if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies!</span> <span style= "font-weight: 400;">If you are on Apple, just </span><a href= "https://podcasts.apple.com/ch/podcast/compliance-that-makes-sense/id1535160531"><strong>click here to review</strong></a><span style="font-weight: 400;">, select “Ratings and Reviews” and “Write a Review” and tell me what your favorite part of the podcast is. </span></p> <p> </p> <p><strong>Today's episode:</strong></p> <p><span style="font-weight: 400;">[00:36] My overall view on the new US Crypto bill. </span></p> <p><span style="font-weight: 400;">[01:08] Some key elements of this bill, and the impact it is intended to have. </span></p> <p><span style="font-weight: 400;">[01:55] An assumption that the bill makes, which I think is flawed. </span></p> <p><span style="font-weight: 400;">[02:39] How the bill changes the categorization of crypto tokens. </span></p> <p><span style="font-weight: 400;">[04:25] Why I disagree with the broad categorizations of tokens under the new bill. </span></p> <p><span style="font-weight: 400;">[04:49] An ambiguously worded provision in the bill which deals with stable coins. </span></p> <p><span style="font-weight: 400;">[06:33] The lack of understanding around e-money in the US. </span></p> <p><span style="font-weight: 400;">[07:11] How the bill approaches contracts that take longer than 24 hours to settle.</span></p> <p><span style="fon