0x0 21 "Crypto should be allowed to grow"

“Crypto should be allowed to grow”

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-crypto winter has led to attacks against web3 community on basis of insider trading and financial instability
-shortcomings of crypto should be paired with shortcomings of fiat currencies as well, recognizing that plenty of illicit laundering and insider trading takes place with the dollar too
-Gary Vaynerchuk convened a diverse and energetic group of people, including celebrities like Eva Longoria and Snoop Dogg, at the inaugural VeeCon 2022
-Congressman Tom Emmer (R-MN) discussed the challenges and pitfalls of crypto that may lay ahead because of the specter of federal regulation and intervention
-policymakers have been debating about how to define a high-quality liquid asset, but the risk is over-regulating it and stifling competition and creating new forms of fragility
-the solution, according to Emmer, is not more regulation, but rather a taxonomy by Congress that establishes definitions and creates a framework for building in web3
-under a strict interpretation, houses would be considered a security for consumers
-many NFTs appreciate in value, in part because of the robust community that forms around them
-if such a strict interpretation of securities was applied, then the emerging creator economy that has been growing rapidly as of late through the sales of NFTs would be discouraged from ever starting creative projects
-Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) introduced a bill that outlined new comprehensive regulation for cryptocurrencies, including a tax exemption on transactions under $200 and a clearer definition on crypto securities versus crypo commodities



"Crypto should be allowed to grow"
"Crypto should be allowed to grow" 3

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