Bankless Nation, this is probably the biggest week for crypto in DC, the capital of

United States, probably ever.

Last week was a massive victory for pro-cripto legislation. You probably heard David and I talking about this on the roll-up.

Basically it was good news. An obscure accounting rule put in place by Gary Gensler's SEC

was making it so US companies couldn't even custody crypto.

That rule was actually repealed.

It's called the Sab 121 repeal.

And as we record this episode, that repeal, that bill is on Biden's desk.

He has the option to choose whether to let it pass or to veto it.

Vidoing it will mean anti-cripto.

Letting it pass might mean he is pro-cripto. And this week is even more

consequential because the SEC is slated to either approve or deny the

Ethereum EDF that happens on Thursday I believe and on Wednesday the

US House of Representatives votes on probably the largest

pro-cripto legislation that we've seen. It's called the Fit 21 Act and our guest is

Representative Patrick McHenry. He is one of the key champions behind this

legislation so we brought him on to tell us what it is and why he supports it and

just as a reminder a vote yes on this bill in DC is pro-cripto a vote no on this

bill signals anti-cripto. A vote no on this bill signals anti-cripto.

The stakes are pretty high for politicians these days because I think the whole DC's fear is finally

waking up to the fact that crypto voters are actually a powerful block in a very close election.

So we have potentially the power to swing elections.

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