"if the Democrats’ goal is to restrict shady dealing by stab | Neeraj K. Agrawal på Binance Square

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Neeraj K. Agrawal

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"if the Democrats’ goal is to restrict shady dealing by stablecoin issuers, they should pass the bill." 
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Neeraj K. Agrawal

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There are a few crypto-related bills moving through Congress right now. Here’s Coin Center’s priorities when it comes to each: Stablecoins - Centralized stablecoin issuance is outside our core mission. So our priorities here are: 1) Ensure that any changes that threaten the developers of decentralized stablecoin software or other infrastructure don’t get added in. 2) Ensure no surveillance requirements that intrude on self custody or our Fourth Amendment rights get added. So far so good on this front. Market Structure - Since 2018 we’ve supported a federal alternative to state money transmission licensing but the nuts and bolts of how centralized trading is regulated are also outside our core mission. Our priority here is to ensure that developers and maintainers of tools for decentralized exchange are not swept into regs for centralized platform operators. We’re also watching for the ever present risk of unconstitutional surveillance requirements being added. Finally, we believe that the primary benefits of market structure legislation—regulatory clarity and an end to the chilling effect for US developers—can be best achieved by incorporating the Blockchain Regulatory Certainty Act into that larger effort. Blockchain Regulatory Certainty Act - This is the top legislative priority for Coin Center and something that everyone in crypto should support. It simply codifies the 2013 and 2019 FinCEN guidance that explicitly says developers of non-custodial software are not money services businesses that require registration. This is more important than ever as the DOJ, through the Storm and Samourai prosecutions, has ignored that guidance. Also, with the leadership of Whip Emmer and Rep. Torres, it’s a simply-drafted and nonpartisan bill that’s ready to pass.

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Growing contingent of people who believe the government will declare them criminals at any moment yet still dismiss crypto as only useful for criminals

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NYT opinion piece today argues that stablecoins would undermine US financial power but includes a section about how it would make the dollar too powerful

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The popularity of Labubu makes me think we need some kind of onchain stylized animal collectible

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The proposed 5% remittance tax in the ‘Big Beautiful Tax Bill’ does not apply to crypto transactions sent from self custody. And may not apply to transactions sent from hosted wallet providers either. New from Coin Center:

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