CFTC Coming For Bitcoin?
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In this video, I discuss the competition between US government agencies like the SEC and the CFTC to regulate Bitcoin.
Senate Democrats are proposing giving the CFTC (Commodity Futures Trading Commission) unprecedented regulatory control of spot Bitcoin, which does not fit with the CFTC's historical role as a regulator of futures and other derivatives.
In the coming financial crisis as the US dollar continues to sink, the CFTC could be mobilized to "pause trading" of spot Bitcoin at US exchanges in an attempt to stem the outflows from fiat to Bitcoin.
Contact your Representative and Senators today and tell them to vote against every version of this bill.
Not investment advice! Consult a financial advisor.
CFTC:
https://en.wikipedia.org/wiki/Commodity_Futures_Trading_Commission
Senator Debbie Stabenow:
https://en.wikipedia.org/wiki/Debbie_Stabenow
Sen. Stabenow, lawmakers look to forge ahead on legislation that will give the CFTC authority over crypto:
https://www.theblock.co/post/304565/sen-stabenow-lawmakers-look-to-forge-ahead-on-legislation-that-will-give-the-cftc-authority-over-crypto-citing-urgency
2022 version of this bill was supported by Sam Bankman-Fried:
https://www.boozman.senate.gov/public/index.cfm/2022/8/boozman-stabenow-booker-and-thune-introduce-legislation-to-regulate-digital-commodities
https://www.cnbc.com/2022/12/13/digital-commodities-consumer-protection-act-sam-bankman-fried-ftx-fail.html
Contact your Representative and Senators here:
https://www.house.gov/representatives/find-your-representative
https://www.senate.gov/senators/senators-contact.htm
I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#Bitcoin
#CFTC
#crypto
Disclaimer
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