BREAKDOWN: US Treasury Department Won’t Go After Miners, and BlockFi Settles With the SEC
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 14 February 2022
⏱️ 17 minutes
🧾️ Download transcript
Summary
It has been a busy few days for crypto in Washington, D.C.
This episode is sponsored by Nexo, Arculus, and FTX US.
Today on “The Breakdown,” NLW covers a set of news from the past few days, including:
- U.S. Treasury Dept. sends a letter to six concerned senators, saying it won’t be including miners and validators in the agency’s definition of a broker
- BlockFi settles with the SEC
- YouTube and OnlyFans get deeper into crypto and NFTs
- Crypto and geopolitics from New Hampshire, El Salvador and Europe
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“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 “Vision” by OBOY. Image credit: Khaichuin Sim/Moment/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.
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Transcript
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| 0:00.0 | Part of Treasury's argument was that, of course, they weren't going to do something stupid. |
| 0:04.9 | They weren't going to try to make a group who didn't have access to a certain type of information, |
| 0:08.8 | share that information, or else render their activities illegal. |
| 0:11.7 | That wasn't their goal. |
| 0:12.6 | Never was their goal. |
| 0:13.8 | My argument at the time was that that's not how we make laws. |
| 0:17.1 | Even if we believe that this group will be good to its word to not interpret their definition of broker in such a way, |
| 0:23.4 | we have to consider the next group of leaders who makes policy around it and the next group after that. |
| 0:28.6 | Welcome back to The Breakdown with me, NLW. |
| 0:32.7 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. The breakdown |
| 0:39.0 | is sponsored by nexo.com, arculus, and FtX, and produced and distributed by CoinDesk. |
| 0:46.4 | What's going on, guys? It is Monday, February 14th, and today we are talking about the latest |
| 0:52.7 | from the Treasury Department on new crypto tax policy, |
| 0:57.0 | plus a ton of other late week-slash-weekend stories. But before we dive in, if you are enjoying |
| 1:02.5 | the breakdown, please go subscribe to it wherever you listen to podcasts, give it a five-star rating, |
| 1:07.7 | give it a review, or if you want to dive deeper into the conversation, |
| 1:11.5 | come join the Breakers Discord. It's where we chat about everything that's going on in the world |
| 1:16.0 | of crypto and in the world of macro and often even beyond that. If you want to check it out, |
| 1:20.7 | you can go to the link in the show notes, or you can go to bit.ly slash breakdown pod. |
| 1:26.5 | Finally, a disclosure, as always, in addition to them being a sponsor, I also work with |
| 1:31.5 | FTX. |
| 1:33.0 | Now, speaking of FDX, I'm actually recording this show on Sunday, February 13th, one, because |
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