Why Many Democrats, Including the White House, Have Come Around on Crypto - Ep. 652

Unchained

Laura Shin

News, Tech News, Business News

4.5 • 1.3K Ratings

🗓️ 28 May 2024

⏱️ 90 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Sheila Warren, CEO of the Crypto Council for Innovation, joins Unchained to explore the dramatic shift by Democrats in the last few weeks on crypto. She explains why she believes the overturning of SAB 121 and the House vote for the FIT21 bill were both instrumental to the White House's changing view on crypto and may have played a role in the SEC’s surprising approval of spot ETH ETFs. Having worked for years on passing crypto legislation and as a lifelong Democrat, Sheila describes what kinds of arguments were persuasive to Democratic members of Congress, addresses some criticisms of the FIT21 bill, and gives her perspective on the debate about single-issue voters. Show highlights: The overall attitude toward crypto in Washington going into the House vote on SAB 121 on May 8 The bipartisan votes in the House and Senate to overturn SAB 121 Why, by the time of the Senate vote on FIT21, the White House had had a change of heart about crypto Why, after the Senate vote to repeal SAB 121, the SEC approved the spot ETH ETFs Why Sheila is so proud of the passage in the House of the FIT21 bill How Sheila and CCI approached their discussions with Democrats and what arguments they found effective Whether the industry has survived the negative image of SBF and FTX The sea change in the White House between the SAB 121 vote and the FIT21 vote A high-level description of the FIT21 bill What kind of authority the bill would give the CFTC over crypto What the implications of the bill are for launching tokens FIT21’s approach to regulating DeFi and how the FIT21 bill is "kicking the can" on this topic The overall political and legislation landscape and the next likely steps for crypto Whether the ETF approval changes anything about the SEC’s investigation into Ethereum What Sheila thinks about the 'crypto single-issue voter’ debate Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Polkadot VaultCraft Guest: Sheila Warren, CEO of the Crypto Council for Innovation Previous appearance on Unchained: Did FTX Ruin Crypto’s Image on Capitol Hill? Two DC Insiders Discuss Links Previous coverage on Unchained of the recent shift in the US political landscape: Senator Cynthia Lummis on Why Crypto Now Has Bipartisan Support in Congress Bits + Bips: Is US Politics Driving the ETH ETF Approval? Why Spot Ether ETFs Are Now Likely to Be Approved on Thursday SAB 121 Bloomberg: As Bitcoin Rallies, Banks Are Pushing US Regulators to Change Crypto Guidance FIT21 CCI: FIT21 Coalition Support Letter Unchained: FIT21 Bill Heads to The Senate: Should We Really Be Excited? Sheila’s op-ed on Fortune: The clock is ticking for Democrats on crypto Spot Ether ETFs Unchained: Analysts Up Odds of Spot Ether ETF to 75% as Prometheum Launches Product That Treats ETH as a Security Ethereum Foundation investigation Fortune Crypto: SEC probing crypto companies in Ethereum investigation as hopes for ETF dim Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	I think the fact that this spanned the spectrum of moderate Democrats to very progressive Democrats
0:06.4	was incredibly rewarding and exciting to me because I've been trying to make the case in the face of, well, I had to close my Twitter
0:14.8	D. I was at one point, I was that way, right? I've been trying to make the case that this must be
0:18.0	bipartisan. Like it is extremely important that we not, you know, give up on Democrats.
0:22.2	And even after the whole, you know, 2022 that we at
0:25.0	not you know give up on Democrats and even after the whole you know Sam stuff when Democrats were very understandably skiddish you know we at
0:30.4	CCI did not give up on them we were like like, listen, that is a thing that happened. We need to own that that happened as an
0:35.8	industry. We need to kind of contextualize it appropriately,
0:39.7	right, and talk about what that meant and didn't mean about the industry and how the technology operates and all that kind of thing,
0:44.5	but we're not giving up on Democrats.
0:49.9	Hi everyone, welcome to Unchained, your're no hype resource for all things crypto.
0:53.7	I'm your host Laura Shin, author of The Cryptopians.
0:57.5	I started covering crypto nine years ago and as a senior editor of Forbes was the first
1:01.3	Meaching reader reporter to a cryptocurrency full-time.
1:04.1	This is the May 28th, 2024 episode of Unchained.
1:08.0	Deploy custom crypto strategies and boost your yield with perpetual options on Voltcraft, the Universal Defi Adopter for Supercharging
1:15.6	your crypto.
1:16.6	With version V1.5, users can now earn options on optimism and arbitrum while also rebalancing
1:22.4	multi-stratgy yield products all in one vault. optimism and
1:23.2	arbitram all-a-tratgy yield products all-in-one vault. Learn more on vaultcraft.io.
1:27.4	Pocodot is the original and leading layer zero blockchain with over 2,000 plus
1:31.8	developers and the
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Laura Shin, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Laura Shin and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.