The Chopping Block: Trump's VP Pick, SEC's Future, and Congress' Crypto Legislation - Ep 676

Unchained

Laura Shin

News, Tech News, Business News

4.5 • 1.3K Ratings

🗓️ 18 July 2024

⏱️ 67 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Robert Leshner, and Tarun Chitra explore the latest trends in the crypto world. In this episode, we invite Laura Shin and special guest Kristin Smith of the Blockchain Association to discuss the latest in crypto politics. We dive deep into JD Vance's VP candidacy alongside Donald Trump and its implications for the crypto industry. We also explore the impact of recent political events on the crypto markets, the potential outcomes of key legislative efforts, and the future of the SEC post-2024 elections. Don't miss this insightful conversation on how the shifting political landscape might shape the future of crypto in the U.S. Show highlights 🔹The attempted assassination of Donald Trump and its effects on the crypto market, including his announcement of JD Vance as his running mate. 🔹Analysis of Trump's changing stance on crypto, and his increasing willingness to engage with the industry and its leaders. 🔹Explanation of the Vice President's role in setting financial services and innovation policy, especially in a potential Trump administration. 🔹 Speculation on whether Gary Gensler will step down if Trump wins and what this could mean for crypto regulation. 🔹 Overview of recent meetings between crypto executives and White House officials, signaling a shift in the Biden administration's approach to the industry. 🔹 Examination of the significant fundraising by crypto PACs like the Fair Shake PAC and their impact on political and regulatory decisions. 🔹Discussion on the Digital Commodities Act, market structure bills, and the challenges of passing crypto legislation in the current congressional session. 🔹 The evolving bipartisan support for crypto legislation and the importance of maintaining this support for future regulatory clarity. Hosts ⭐️Haseeb Qureshi, Managing Partner at Dragonfly ⭐️Tom Schmidt, General Partner at Dragonfly ⭐️Laura Shin, Journalist, Author of ‘The Cryptopians,’ founder and CEO of Unchained Guests ⭐️Kristin Smith, Chief Executive Officer of Blockchain Association Disclosures Timestamps 00:00 Intro 02:15 Trump & JD Vance 10:27 Politicians Stance on Crypto Policy 27:41 Crypto's Lobbying Efforts 34:56 Crypto's Political Influence 36:58 SEC Enforcement and Legal Battles 39:19 Speculations on Biden Administration's Crypto Stance 49:48 Legislative Pipeline and Market Structure Bills 01:01:36 Future of Crypto Regulation Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Look at the damage that Gary Gensler has done through his enforcement actions alone.
0:04.7	Forget other agencies, let's just look at the SEC.
0:07.4	You know, Ripple has spent somewhere between $100 and $200 million on legal bills so far.
0:12.8	Coinbase, I think I saw somewhere they've spent
0:15.6	close to $100 million already.
0:17.5	And they're still early in the process, right?
0:19.3	Like Krakan, who knows what they've spent?
0:21.4	If you add up all of the legal fees that the industry has had to pay just to fight enforcement actions from the SEC,
0:30.0	it easily tops a billion dollars and could get close to two billion dollars by the time all of this is done.
0:35.7	That's a tremendous amount of money that's just going to lawyers, right, to deal with very specific issues. I think for a fraction of that price, we can actually work to educate
0:49.2	Washington. We can work to build relationships within Congress and hopefully get a law pass that puts a new framework in place that stops the bleeding.
1:00.1	Not a dividend.
1:01.1	It's a tale of two quand.
1:02.2	Now your losses are on someone else's balance.
1:05.0	Generally speaking, air drops are kind of pointless anyways.
1:08.0	I mean the trading firms who are very involved.
1:10.0	I like that eat is the ultimate problem.
1:12.0	D5 protocols are the antidote to this. I like that eat is the ultimate problem.
1:12.8	D5 protocols are the antidote to this problem.
1:17.6	Hello everybody, welcome to the chopping block.
1:19.2	Every couple weeks, the four of us get together and give the industry insiders
1:21.7	perspective on the crypto topics of the day. So quick intros first you got Tom the Defe-Maven and
	...

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