Bitcoin’s Allies in the US Senate Are Increasing

The Breakdown

Blockworks

Business, Investing

4.8 • 806 Ratings

🗓️ 29 March 2022

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by Nexo.io, Arculus and FTX US. On today’s episode of “The Breakdown,” NLW looks at the news that long-time Bitcoin advocate Sen. Cynthia Lummis (R-Wyo.) is now working with Sen. Kirsten Gillibrand (D-N.Y.) on what aspires to be comprehensive crypto legislation. The addition of Gillibrand into the mix underscores the growing bipartisan support for Bitcoin and crypto. Additionally, four House Democrats have introduced the ECASH Act to keep privacy in digital money. On this edition of the “Weekly Recap,” NLW looks at recent comments from the leader of the world’s largest asset manager on Ukraine and digital currencies, as well as other important updates from the crypto industry, including India’s passing of a finance bill with crypto taxation and El Salvador’s delay of their bitcoin bond. - Take your crypto to the next level with Nexo. Invest and swap instantly, earn up to 20% APR on your idle assets or borrow cash against them at industry-leading rates. Get started today at nexo.io to receive up to a $100 welcome bonus. Valid through March 31. - Arculus™ is the next-gen cold storage wallet for your crypto. The sleek, metal Arculus Key™ Card authenticates with the Arculus Wallet™ App, providing a simpler, safer and more secure solution to store, send, receive, buy and swap your crypto. Buy now at amazon.com. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - Consensus 2022, the industry’s most influential event, is happening June 9–12 in Austin, TX. If you’re looking to immerse yourself in the fast-moving world of crypto, Web 3 and NFTs, this is the festival experience for you. Use code BREAKDOWN to get 15% off your pass at www.coindesk.com/consensus2022. - Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: Paul Morigi/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.1	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:15.0	The breakdown is sponsored by nexo.io, Arculus, and FtX, and produced and distributed by CoinDesk.
0:22.8	What's going on, guys? It is Monday, March 28th, and today we are talking about Congress and
0:28.1	the Senate stepping into the crypto and digital money discussion. Before we get into that,
0:33.7	however, if you are enjoying the breakdown, please go subscribe, give it a rating,
0:37.6	give it a review, or if you want to get deeper into the conversation, come join us on the
0:42.4	Breakers Discord. You can find a link in the show notes or go to bit.combeck down pod.
0:47.9	Also, a disclosure, as always, in addition to them being a sponsor of the show, I also work with
0:52.9	FTX. So first, let's give a little
0:56.1	bit of context for how we got here in terms of Senate and the Congress starting to get
1:00.6	deeper into the crypto conversation. One of the most anticipated events of the year as
1:06.6	relates to crypto and the government was the release of President Biden's executive order.
1:12.1	This happened a couple weeks ago, and up until that point, there had been a huge amount of
1:16.3	speculation about what that EO would consist of. Would it be something that was warmly embracing
1:22.1	the crypto industry? Would it be something that was on the other end of the spectrum closer
1:26.4	to China's ban of the
1:28.0	crypto industry? While most people thought it was probably going to be somewhere in the middle,
1:32.3	there were definitely partisans who thought either side might be the case. And in particular,
1:36.6	there were plenty of people who thought that it was going to be a lot harsher and more concerning
1:40.5	than it ended up being. Instead, what we got was sort of your standard political
1:44.8	blend of, this technology represents both a big opportunity, but also significant risks and
	...

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