This is the Kedriately Podcast for Tuesday, August 1st,

2023. I'm Caleb Brown.

The effort to contain or otherwise throttle

the development of cryptocurrency in the US

continues with members of Congress now seeking

heavier regulation of crypto wallets and all manner of third-party crypto businesses.

But it's not precisely clear who benefits from a crypto crackdown.

Kators Nick Anthony evaluates the current state of play in Congress.

There are many lawmakers who would like to regulate cryptocurrency, which I think just that alone tells you that they don't necessarily

understand how it works.

There are third parties that deal in cryptocurrency, but in so many cases, crypto is distributed, unowned, in a sense, piece of technology.

And so it's difficult, it would be difficult to do from that perspective because there's no one that you can lean on to get the correct behavior out of.

And it's international.

It flies through the wires, the series of tubes.

And so it, from that perspective,

it's just a, it seems like an almost non-starter so how have members of Congress who

desperately want to engage in this kind of regulation what are they pushing

now?

Probably the worst example we have on the table right now is with the Can't See Act or the

crypto asset national security enhancement act, where it sees the problem that you just described,

that we have a surveillance status quo based on third parties. And they do this in kind of two ways. They create this huge

definition of control to basically say anyone who has a slight influence on a project controls it or somebody who is invested

...