New Crypto Executive Order in Consideration -- Bad for bitcoin? Critics think so

[FlyingDream]

Source: https://www.bloomberg.com/news/articles/2021-10-08/white-house-weighs-wide-ranging-push-for-crypto-oversight

Also, here's a podcast with some big government and elite academia folks (who are naturally anti-bitcoin), if you are curious what they're saying about it... listen to 16:04 through 19:56
https://www.lawfareblog.com/cyberlaw-podcast-federal-government-getting-creative-regulating-technology

Curious if anyone has thoughts on this? [Also apologize if someone posted this already, I couldn't find any related discussions.]

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[blockman]

We can't stop them if they're considering it. IIRC, there's already an order from Biden just after he became the POTUS that regulation of it should be delayed and maybe he's got a plan on how he's going to make it favorable to the state. Directives and effects of it are still on the study and that's why it's said that they're trying to weigh it. But whatever is the outcome of it, they can't stop the crypto market to grow.

[hugeblack]

The authorities in the United States will not be going to ban Bitcoin this year and there are a lot of problems and therefore I do not expect that any serious steps will be taken to change the current rules of regulation.
Some decisions may be toughened, but things will not change much.

All regulatory news I do not see a problem with because many platforms exploit these points to deceive investors and get easy profit, but in the future people should know how to manage digital currencies them bitcoin in a decentralized manner (Full node, TOR, true dexs, ...etc.)

[dothebeats]

Most of Biden's plan this year is to tax the rich, especially huge companies who weren't paying any taxes before he became the POTUS. I don't think anything crypto-related would be the focus of the administration in the soonest possible time, though for sure they may already be drafting regulations and whatnot re: cryptocurrencies, but the realization of such regulations may not be in the horizon for us just yet.

I for one don't think that the regulations they're trying to pass are gravely detrimental to the market and ecosystem in general. It may even help the market to expand and reach more and more people if the right mix of things are implemented.

[BrianH]

On the OP - this is an executive order that is collecting info only. It has no weight of law and does not say it will do anything worrisome. The "infrastructure" bill is what you should be worried about.

Most of Biden's plan this year is to tax the rich, especially huge companies who weren't paying any taxes before he became the POTUS. I don't think anything crypto-related would be the focus of the administration in the soonest possible time, though for sure they may already be drafting regulations and whatnot re: cryptocurrencies, but the realization of such regulations may not be in the horizon for us just yet.

I for one don't think that the regulations they're trying to pass are gravely detrimental to the market and ecosystem in general. It may even help the market to expand and reach more and more people if the right mix of things are implemented.

Have you not heard of the "infrastructure" bill? The infrastructure bill is going to BAN mining, development and make it a FELONY to send more than $10,000 in total to one recipient (i.e. an exchange) without collecting their social security and other personal information (do you have your exchange's tax id number and other personal info)?  Please reach out and fight against this.

The authorities in the United States will not be going to ban Bitcoin this year and there are a lot of problems and therefore I do not expect that any serious steps will be taken to change the current rules of regulation.
Some decisions may be toughened, but things will not change much.

All regulatory news I do not see a problem with because many platforms exploit these points to deceive investors and get easy profit, but in the future people should know how to manage digital currencies them bitcoin in a decentralized manner (Full node, TOR, true dexs, ...etc.)

Yes, the authorities in the US are planning to BAN Bitcoin use over $10k, if you don't collect the recipient's social security info. They are also banning mining and development. This vote is now planned to occur on 10/31/21 - trick or treat?