Senator Pat Toomey calls out Gary Gensler's BS

Last week I listened to Laura Shin's Unchained Podcast # 399 dated 9-23-22. In case you don't know who she is she is a journalist who has been covering crypto for 7 years now and her podcast does quite well. She also wrote the book "The cryptopians". This is the one where she uncovers the true DAO hacker.

The episode is titled "Why Senator Toomey thinks SEC chair Gary Gensler is wrong about crypto”. During the interview Toomey calls Gensler's arguments bout crypto being a security simply wrong. What stuck out most to me is that Toomey is not afraid to say Gensler is simply wrong and that he also has not elaborated to the public, the government and to the crypto community his firm negative stance on crypto.

I recommend you give this episode a listen. It makes me happy to hear a politician speak like this about our beloved crypto. We need more like him to support us. Give it a go.

Some of the subjects discussed are outlined below. Hope it catches your interest.

• the structural differences between crypto tokens and securities
• why Sen. Toomey is demanding crypto legislation
• why “regulation by enforcement” does not provide clarity
• how to determine if a token is decentralized
• whether proof of stake consensus turns tokens into securities
• Sen. Toomey’s take on the new framework for stablecoin regulation
• whether it is appropriate to ban algorithmic stablecoins
• the importance of making disclosures so that regular users understand the risks of crypto
• how the collapse of Terra and other crypto companies like Voyager and Celsius affected lawmakers’ perception of crypto
• whether the US Treasury made a mistake with the Tornado Cash sanctions
• what the government should take into account in regards to a central bank digital currency (CBDC)
• why he believes the White House reports on crypto are not helpful and whether entrepreneurial talent is migrating to other countries
• the likelihood of any of the crypto bills passing soon

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