Quote from: bittraffic on October 04, 2023, 07:57:05 PM

Quote from: darkangel11 on October 04, 2023, 07:39:53 PM

Is this really an Economics thread? More like Politics...

This is not a huge win, since McCarthy wasn't against bitcoin. Here's one of the things he had to say about it:
"Senate Democrats are now targeting people who have bought cryptocurrency. They think the tax code should treat the crypto ecosystem the same as it had been treating stockbrokers since 1954. That's not what I'd call 'progressive."

Of course his successor is pro bitcoin and anti SEC, but it's not like we've managed to get rid of Elizabeth Warren, or kick Gensler out of the SEC Wink

The crazy world is what we are living in now. IRS is even going to tax people who profit $600. It used to be $20k, a great leap under.

The change of speaker seems giving crypto holders hope for progress though and I think we may finally see the light at the end of the tunnel. If many lawmakers grilled GEnsler the other day on the hearing, this time there is support from this new speaker. I guess they may be able to grill Gensler on the Senate, if they also do a hearing on the Senate.

Can they fire Gensler thru senate? I think this is what they need for Spot ETF to go through.

Yeah it is fucking nuts. 600 is far too low of a number. I get that 20,000 was easy to abuse. Sy a husband and a wife and 2 kids you could do 80,000 but 600 is too fucking low.