the trump administration and crypto fraud

[dirtywick]

i guess i don’t know what is achieved by the government holding its crypto and refusing to sell. it’s like seizing a baseball card collection and holding it for strategic purposes. idk what that means, what strategic value is there here?

 

[Jack by the hedge]

Why is there never a number theorist around when you need one?

Musk fired them all. We just use common sense now. Cheaper.

 

[Andy_Ross]

It’s a kind of farm subsidy, but for billionaires making digital magic beans instead of food.

Trump’s "Crypto Reserve" is a world historical grift

Corruption doesn’t get much more blatant than this.

www.publicnotice.co

 

[TragicMonkey]

How does one make a nation great? By firing nurses and investing in fake money, of course! That's understanding value in both senses of the word.

 

[dirtywick]

https://cointelegraph.com/news/texas-senate-passes-bitcoin-strategic-reserve-bill

texas first state to pass crypto reserve bill through senate

 

[dirtywick]

First-ever White House crypto summit leaves some investors unhappy

The price of bitcoin failed to rally as the summit, hosted by “crypto czar” David Sacks, concluded.

www.nbcnews.com

crypto summit a flop if you believe in crypto as a currency. seemed like a bunch of smoke and mirrors from major donors who paid to get out of investigation and the guy they paid that nobody was buying.

 

[Orphia Nay]

i guess i don’t know what is achieved by the government holding its crypto and refusing to sell. it’s like seizing a baseball card collection and holding it for strategic purposes. idk what that means, what strategic value is there here?

To prevent a crypto crash or prevent volatility?

 

[Norman Alexander]

https://cointelegraph.com/news/texas-senate-passes-bitcoin-strategic-reserve-bill

texas first state to pass crypto reserve bill through senate

Well, we now know the first state that will go broke due to a crypto rug-pull.

 

[dirtywick]

Begich introduces bill to establish strategic bitcoin reserve

EXCLUSIVE - Rep. Nick Begich (R-AK) announced Tuesday that he is introducing legislation that establishes a strategic bitcoin reserve, an idea that has

www.washingtonexaminer.com

thought it was over because of that dud of a crypto summit? house bill to establish crypto reserve, buying 1 million bitcoin which would cost somewhere in the ballpark of a trillion dollars.

 

[Norman Alexander]

Begich introduces bill to establish strategic bitcoin reserve

EXCLUSIVE - Rep. Nick Begich (R-AK) announced Tuesday that he is introducing legislation that establishes a strategic bitcoin reserve, an idea that has

www.washingtonexaminer.com

thought it was over because of that dud of a crypto summit? house bill to establish crypto reserve, buying 1 million bitcoin which would cost somewhere in the ballpark of a trillion dollars.

Whose trillion dollars would that be?

 

[dirtywick]

well a small portion of it is mine unfortunately

 

[Norman Alexander]

well a small portion of it is mine unfortunately

I would take it out of their reach ASAP. I gather the Caymans have that ability.

 

[dirtywick]

there's no escaping this for anyone. if they tank the economy and put a trillion dollars into crypto, we're all going down with the ship. i'm along for the ride whether i like it or not.

 

[dirtywick]

U.S. House Votes to Overturn IRS DeFi Broker Rule

The IRS broker rule would have been impossible to comply with for DeFi entities, one of the resolution's proponents said.

www.coindesk.com

house overturns rules regarding decentralized brokers and reporting trades to irs

 

[Jack by the hedge]

U.S. House Votes to Overturn IRS DeFi Broker Rule

The IRS broker rule would have been impossible to comply with for DeFi entities, one of the resolution's proponents said.

www.coindesk.com

house overturns rules regarding decentralized brokers and reporting trades to irs

I won't pretend to understand but my first impression is that this removes a requirement for IRS oversight on the grounds that it would be too onerous to do the necessary reporting, but the consequence appears to be to create a money launderers free-for-all.

Is that the gist or have I misunderstood?

 

[Norman Alexander]

U.S. House Votes to Overturn IRS DeFi Broker Rule

The IRS broker rule would have been impossible to comply with for DeFi entities, one of the resolution's proponents said.

www.coindesk.com

house overturns rules regarding decentralized brokers and reporting trades to irs

How soon before there will be a new entry on the US Stock Exchange: SPCLK - Special K, the international ketamine cartels.

 

[dirtywick]

I won't pretend to understand but my first impression is that this removes a requirement for IRS oversight on the grounds that it would be too onerous to do the necessary reporting, but the consequence appears to be to create a money launderers free-for-all.

Is that the gist or have I misunderstood?

i agree that seems to be the case. it’s decentralized so we can’t keep track of who these people are is true, but it’s also true there’s no real use for decentralized crypto brokerages besides hiding money imo

 

[The Great Zaganza]

Nonsense!
The IRS just has a much harder time to audit, but on the other hand, it has fewer people and less funding, so that evens things out.

 

[dirtywick]

any financial regulations at all are government overreach. decentralization and deregulation, there is no risk at all to consumers.

 

[The Great Zaganza]

The competition will make sure that consumers will get the very best treatment. Also, we are all in favor of monopolies.