This is so interesting -- like watching organ differentiation in real-time.

I'm no political genius, but my sense is that anti-crypto positioning is almost the purest footgun situation that could be wished for: people who dislike crypto have it as number 46 on the list of things they hate about the world; and for people who like crypto, it's like the most important thing in their lives.

Given razor-thin margins of victory and widespread voter apathy, it dumbfounds me that someone would pick that hill to die on.

I think it's a fairly bipartisan thing to want the banking system to take hold of custodied assets, probably the least controversial thing politically to show some support for "crypto".

There's two fights in here:

1- Getting politicians to realize Bitcoin is different from "crypto" and "blockchain". A lot of them are running around and using these terms interchangeably.

2- Once the custody battles are won, getting politicians to really push executive-level policy that basically leaves self-custody/privacy-preservation largely alone, if not enshrining actual protections.

It's an election year. They will go whichever way the voting winds blow. If Dems manage to somehow win the election they will go back to hating crypto.

Okay, so we have a question. What do we call it then?

There aren't lot of words and and phrases that are being used. All people generally call it that way.

Do you guys have any suggestion?

In US all are running behind some type of illusion. Saying crypto currency may feel them better as thy are getting fiat in prints. We are living in some hollow times. Aren't we?

Yeah, if this gets vetoed, perhaps they can limit it to just Bitcoin, which doesn't have any of the scamming aspects of the crypto casinos, and has already been recognized as a commodity by the SEC

This strikes me as smart politics by the Dems, as Nickel[^1] notes in the piece, since otherwise they're ceding the issue, and that leads to a self-fulfilling prophecy where "crypto" and Bitcoin become inherently Republican. Warren can't hurt her election chances in MA short of shooting someone on Fifth Avenue (to quote someone else), but the other party members don't want to chase away votes.

But yeah, I don't believe for a second that they care about anything other than making sure the banks can sell their ETFs and funnel their profits into donations.

[^1}:Also, "Wiley Nickel" is a hell of a name.

So many people are afraid to broach the subject, because they are ignorant of what it is. I dont think many of them actually understand it in any way. Thats why they fear it.