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0 sats \ 1 reply \ @Cje95 OP 21 May 2024 freebie \ parent \ on: US lawmaker addresses House before FIT21 vote: Bill ‘will stop another FTX’ bitcoin

Maxine Water's Highlights so far...

  • Legislation would remove all guardrails from crypto
  • All crypto companies are unregistered and operating illegally
  • Crypto only benefits the wealthy
  • There are no consumer protections in place with this legislation

All of these are false and Members from Ranking Member Waters party have written letters debunking this because it is just flat-out incorrect and seems like she (Ranking Member Waters) hasn't read the legislation

Update

  • Republicans only want to attack SEC Gensler (doesn't mention that Democrats have been doing the exact same thing) But the best one by far is
  • I don't know what Amenedments you are talking about that would address these issues with holding people accountable

It makes a ton of sense that Water's is literally by herself

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0 sats \ 0 replies \ @Cje95 OP 21 May 2024

Further Water's Wild Comments

  • Republicans decided to ruin her stablecoin bill
  • The FIT21 Act that is before them isn't what they passed out of the Committee
  • There is no way that the CFTC would have the same authority as the SEC (plot twist I know that doesn't matter because guess what a commodity isn't a security)
  • The CFTC is to small and doesn't have enough funding to execute this ( the bill has the full funding that the head of the CFTC asked for if given this power)
  • This legislation is going to cause more fentanyl to kill Americans (I summarized this one but her comment was wild and disconnected as one would expect)
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