
John E Deaton|Mar 05, 2025 19:27
Here you go Vlad, as well as @realDonaldTrump, @DavidSacks, @BoHines, @HesterPeirce, @howardlutnick, @brian_armstrong, @bgarlinghouse, @jespow, @DavidLRipley, @DavidFBailey, @CathieDWood, @saylor, @IOHK_Charles, @VitalikButerin, @KyleSamani, @pmarca, @cz_binance, @cameron, @tyler, @jerallaire, @paoloardoino, and others I’ve missed, possibly attending the Crypto Summit on Friday:
In addition to the SBR & SCR:
1) Consumer protections regarding centralized entities, including:
A. Segregation of customer funds with NO commingling of corporate funds;
B. Customer Funds Bankruptcy Protection: If an exchange or other centralized entity files for bankruptcy protection, customer funds will NOT be considered assets of that centralized company and will NOT be subject to claims from that company’s creditors;
C. Real-time proof of 100% Reserves by the centralized exchange or company;
D. Ban on the rehypothecation of BTC and other Crypto assets; and,
E. Established limits and procedures for leveraged crypto trading with liquidation protocols (eg notice for liquidations).
2) tailored stablecoin legislation, reducing friction on cross border payments and driving demand for U.S. Treasuries, further strengthening the status of the USD as the world’s reserve currency.
3) Market Structure’s Bill:
A. Reducing the number of U.S. financial regulators who claim regulatory jurisdiction over the asset class;
B. Pursuing Legislation, updating our securities laws that stops agencies from applying 1933 statutes, coupled with 1946 caselaw to modern day technologies like Crypto & Blockchain, AI, Robotics, Automation, Quantum Computing, etc. - including making clear what constitutes a digital security token, governed by the @SECGov 🆚 digital commodity tokens, governed by the @CFTC.
4) Tax Reform: Currently, crypto is considered property, triggering capital gains tax consequences, even for small payments. We should be allowed to make certain types of payments using crypto without incurring capital gains liabilities. One example is the payment of federal taxes with BTC, XRP, and other specified cryptocurrencies, previously referenced by President Trump. This would ENCOURAGE Tax payments by citizens. A small percentage (1%) could go into the Strategic Reserve.
5) Abolish/Reform the Accredited Investor Rule. It is an absolute disgrace that you can serve in the U.S. Military for 20 years but you don’t qualify to own Private Equity the way Members of Congress can.
Anyway: that’s my 2 cents.
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