Warren Creating AntiCrypto Army | Congress Restrict Act Kills Web3
Warren Is Doubling Down On Her Anti Crypto Stance While Congresses Restrict Act Would Give Warren All The Control She Desires
Forwarded from a friend? Subscribe below.
The bill is particularly harsh on decentralized finance (DeFi), including noncustodial ones, requiring platforms to record the personal information of users and submit it to the government without a warrant or probable cause. It’s a bit like blaming the city because you were mugged on the sidewalk. The bill also lumps together all miners, including those mining for themselves as opposed to processing transactions for others, as money service businesses. It also ignores the fact that miners can provide other services unrelated to transactions.
Most absurdly, companies that develop the software would be required to register as money service providers, adopt Anti-Money Laundering policies and report customers to the Financial Crimes Enforcement Network. By this logic, electronics stores like Best Buy and Micro Center should register as money service providers because the cell phones they sell could be used to commit fraud.
Restrict Act Targets Bitcoin & Web3
"One particular provision in Warner’s RESTRICT Act has caused many people to believe that Americans could be jailed for using a virtual private network (VPN). The bill notes that there are strict penalties, including a 20-year sentence, for using “communications technology products and services” with applications or web portals associated with “foreign adversaries.” While some have said that the RESTRICT Act could ban Tiktok and target Americans for using a VPN with websites tied to foreign adversaries, others have gone as far as to say that the bill could be used to ban bitcoin."
ICP Announces Annual Conference To Be Held In Miami, May 16 & 17
Florida will host the 1st annual ICP Community Conference at the iconic Hard Rock Hotel & Casino, where top web3 founders, investors, & influencers (including Blockchain Boy & Joshua Jake) will get together to explore the latest ICP innovations. Whatever blockchain you’re involved with, ICP can decentralize key components of your the dapp tech stack and there’s never been a better opportunity to build connections with top ICP builders!
“We are super excited for ICP to further establish its Florida footprint,” say Samuel Armes, Founder of the FBBA. “By holding their conference here in Miami, they are planting a flag in the most pro-web3 State in the United States. We are looking forward to the community coming to Florida and continuing to advance their protocol and community.”
You can follow the event on Twitter to stay in the loop, and use code “FBBA” to get tickets for just $149 (a $226 discount)!
In this episode of "Around The Table," JoshuaJake and Samuel Armes are joined by Anessa Allen Santos, J.D., a U.S. attorney and fintech regulatory sherpa, to discuss a range of topics related to cryptocurrency and government regulation. They cover various issues, including the potential risks of CBDCs, the power of states to regulate crypto, the need for a digital and physical representation of currencies, and the issue of money laundering. Additionally, they delve into the actions of regulatory bodies such as the SEC and CFTC, the potential for lawsuits against the government, and the concept of decentralization in banking. They also explore the downsides of CBDCs and what the future of the industry might look like and touch on topics such as Web3, spirituality, and AI in the military. Tune in for an engaging and thought-provoking discussion on cryptocurrency's current state and future.
More deep recession territory for today's ISM. New Orders back under 45. Backlogs falling fast. There is going to be little for workers to do and if firms give up hope for a 2d half rebound then the mass layoffs aren't far behind.
If you're thinking OPEC's production cuts are going to reignite "inflation", markets still absolutely sure it won't. The inversions are back to extremes where they'd been in January. If anything, a short run increase in WTI will only hasten the Fed pivot.
OPEC sure isn't buying the China reopening story. If there was anything to there'd be no need to cut more supply. If demand was going to surge in the second half like "everyone" says, just let oil prices do their thing. OPEC knows demand is trouble.
In The Know
Click here for events & meetups in April 2023
Crypto News Heard Around the State
Do you have any noteworthy news about you or someone you know? Want to voice an anonymous opinion? Send it to us here
Crypto Flo is brought to you by our partners and sponsors:
Disclaimer: Crypto Flo DOES NOT provide financial advice. All content is for informational purposes only. Crypto Flo is not a registered investment, legal, or tax advisor or a broker/dealer. Trading any crypto-related asset is extremely risky and could result in significant capital losses.