MARKETS DAILY: Featured Story | Congress Gets the Runaround From Regulators, Again

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Tech News, Business News, Daily News, News

4.7 • 698 Ratings

🗓️ 19 November 2023

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

"If the broker rule proceeds as is, it will surely spell the near-total collapse of the crypto industry in the United States," writes Blockchain Association CEO Kristin Smith and DeFi Education Fund CEO Miller Whitehouse-Levine. Today's episode is sponsored by CME Group and PayPal. To get the show every day, follow the podcast here. Today’s featured story is an opinion piece from Kristin Smith and Miller Whitehouse-Levine, titled: “Congress Gets the Runaround From Regulators, Again,” written as part of Consensus Magazine's Tax Week. - From our sponsors: CME Group Cryptocurrency futures and options provide market-leading liquidity for bitcoin and ether trading. These cash-settled contracts give full exposure to crypto performance without the hassle of holding the physical position. No digital wallet? No problem. Trade nearly 24/7 in a transparent, CFTC-regulated market. Visit cmegroup.com/crypto to learn more. Disclaimer: This communication is not directed to investors located in any particular jurisdiction and is not intended to be accessed by recipients based in jurisdictions in which distribution is not permitted. The information herein should not be considered investment advice or the results of actual market experience. Past results are not necessarily indicative of future performance. Trading derivatives products involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation. - PYUSD, a stablecoin made for Payments. 1USD = 1PYUSD. Introducing PayPal’s new digital currency, PayPal USD (PYUSD), a stablecoin backed by U.S. dollar deposits, U.S. Treasuries and similar cash equivalents. Buy, sell, hold and transfer it in our app or site and explore Web3 with a payments brand that has been trusted for over 20 years. Get started now at paypal.com/pyusd. - This episode was hosted by Noelle Acheson. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl. All original music by Doc Blust and Colin Mealey. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:49.5	This episode of Markets Daily is sponsored by CME Group and PayPal.
1:02.4	Hello, this is Markets Daily from Coin Desk.
1:05.3	I'm Noel Atchison here with your featured story.
1:09.9	Today's featured story is from Blockchain Association CEO Smith, and Defy Education Fund CEO Miller
1:12.6	White House Levine. Its title is, Congress gets the runaround from regulators again.
1:22.9	We will be using Wondercraft AI voice for this episode.
1:27.7	The long-running scramble for control between America's administrative agencies and our elected representatives passed another important milestone this week.
1:36.0	As the U.S. Treasury Department prepares to finalize a new, expanded definition of who it considers to be a quote-unquote broker subject to tax reporting obligations,
1:46.1	Congress has yet another opportunity to show renewed vigor in its efforts to set clearer
1:50.2	rules across many aspects of our lives, touched by regulation, and reign in the metastasizing
1:55.5	power of administrative agencies. While the broker issue may seem narrow and important only to the digital assets industry
2:03.2	which it targets, the process from which the new definition arose illuminates the imbalance
	...

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