Latest / The Paul Barron Crypto Show / Kamala Crypto Statement Coming Soon?🚀Perianne Boring | The Digital Chamber

Transcript

Kamala Crypto Statement Coming Soon?🚀Perianne Boring | The Digital Chamber · The Paul Barron Crypto Show

• 0:05
  Speaker 1: All right, so welcome back to another episode of tech Path.
• 0:08
  Speaker 1: We are going to dive into something I think you
• 0:10
  Speaker 1: guys will like today and I somehow coerced Verry Unboring
• 0:15
  Speaker 1: to come and join me today. Are Yeah, good, nice
• 0:19
  Speaker 1: to see you.
• 0:19
  Speaker 2: Thanks for coming to my neck of the woods.
• 0:21
  Speaker 1: Yes we are. So we are at a business event.
• 0:24
  Speaker 1: A lot of things have happened here recently, obviously with
• 0:26
  Speaker 1: the crypto scenario with crypto for Harris, but also what
• 0:30
  Speaker 1: the Harris campaign has been able to do. So let's
• 0:32
  Speaker 1: just dive right into that. First up, give us the
• 0:36
  Speaker 1: lowdown on where you feel the Democrats are right now
• 0:39
  Speaker 1: in terms of their policy for blockchain.
• 0:42
  Speaker 2: Yeah, well, it's been an incredible summer.
• 0:44
  Speaker 3: I think this is the busiest summer I've probably ever
• 0:46
  Speaker 3: had in my life, which is saying a lot things
• 0:49
  Speaker 3: are moving very very fast. So the DNC just they
• 0:55
  Speaker 3: did their convention last week, so we're just coming off
• 0:57
  Speaker 3: the heels of all of that. Of course, was no
• 1:01
  Speaker 3: mention of digital assets or blockchain at the convention itself,
• 1:05
  Speaker 3: did not make it into the party platform, but there
• 1:08
  Speaker 3: is a lot of interest.
• 1:10
  Speaker 2: So I met with a member of the campaign just
• 1:13
  Speaker 2: a couple of days ago.
• 1:15
  Speaker 3: So the way that the campaign, the Harris campaign, has
• 1:17
  Speaker 3: been operating, because we have the Biden Harris administration, which
• 1:21
  Speaker 3: of course is still in power, the campaign is operating
• 1:25
  Speaker 3: that whatever the policy position of the Biden and Harris administration,
• 1:30
  Speaker 3: that is the de facto policy of the Harrison Waltz campaign.
• 1:36
  Speaker 3: So the party or the campaign told me that they
• 1:40
  Speaker 3: are not comfortable diverging from the existing administration policy until
• 1:46
  Speaker 3: after the convention is over. Okay, mostly for political reasons,
• 1:51
  Speaker 3: but you know, for others as well. So we weren't
• 1:55
  Speaker 3: really expecting to see much or much of anything until
• 1:58
  Speaker 3: after the convention is over.
• 1:59
  Speaker 2: In Hair is formally the nominee.
• 2:02
  Speaker 3: So how do you shift the Democratic Party being anti
• 2:09
  Speaker 3: crypto to pro crypto? And of course the election, there's
• 2:12
  Speaker 3: a huge opportunity now that we have a new leader.
• 2:16
  Speaker 3: Kamala Harris is much younger, she comes from San Francisco,
• 2:20
  Speaker 3: she is tech forward. We see a massive opportunity here
• 2:24
  Speaker 3: to get anew and an update in a more nuanced position,
• 2:28
  Speaker 3: and we are still optimistic that she will update her position.
• 2:33
  Speaker 3: We are expecting to see in the coming days a
• 2:36
  Speaker 3: very generic statement come from the administration.
• 2:40
  Speaker 2: So stay tuned.
• 2:41
  Speaker 3: But ultim believe there'll be some news from the administration soon,
• 2:45
  Speaker 3: something very high level, something very generic, that basically says
• 2:49
  Speaker 3: we don't hate crypto anymore.
• 2:50
  Speaker 1: Is it going to be substantiative enough to really do
• 2:54
  Speaker 1: it well?
• 2:55
  Speaker 3: I think you're getting to the heart of kind of
• 2:58
  Speaker 3: the biggest question at least I have. So I do
• 3:01
  Speaker 3: believe that the powers that be on all sides of
• 3:03
  Speaker 3: political parties see that there are great advantages to being
• 3:10
  Speaker 3: pro crypto. There was a new poll or study that
• 3:14
  Speaker 3: just released over the past couple of days that said
• 3:18
  Speaker 3: over fifty percent of all corporate money going into supporting
• 3:22
  Speaker 3: election type activity came from the cryptocurrency sector.
• 3:26
  Speaker 2: So there's great incentive to be pro crypto.
• 3:30
  Speaker 3: However, where Harris since today, because that Biden and Harris
• 3:35
  Speaker 3: administration again has been so aggressive against our community.
• 3:39
  Speaker 2: I personally believe.
• 3:41
  Speaker 3: That it'll be very difficult to win over crypto voters
• 3:45
  Speaker 3: by making a statement alone. Remember, she is in power,
• 3:50
  Speaker 3: she's the vice.
• 3:50
  Speaker 1: President already made right, so her position.
• 3:54
  Speaker 3: At least for me in terms of where I personally
• 3:57
  Speaker 3: will be voting as a single issue voter, I would
• 4:00
  Speaker 3: not be convinced by a speech or a statement alone,
• 4:04
  Speaker 3: I would want to see some action, and that's our advice.
• 4:07
  Speaker 3: That's my advice to Vice President Harris.
• 4:10
  Speaker 2: Is she is talking to industry. We are in contact
• 4:13
  Speaker 2: with her campaigns.
• 4:14
  Speaker 3: They at least have opened the door and they're hearing
• 4:16
  Speaker 3: from industry and they're taking inputs. So that's kind of
• 4:19
  Speaker 3: step one. Step two is come up with a position,
• 4:21
  Speaker 3: something that's thoughtful. It can't just be we don't like
• 4:23
  Speaker 3: crypto because we you know, there's not even a real
• 4:26
  Speaker 3: reason for it. Come up with some kind of nuanced
• 4:29
  Speaker 3: policy platform, like what everybody else has done. And then
• 4:34
  Speaker 3: take a step, do something past one of the dozens
• 4:37
  Speaker 3: of bills that's sitting in Congress today, you know, and
• 4:40
  Speaker 3: operation choke point, or even just acknowledge it.
• 4:44
  Speaker 2: This acknowledge that it's.
• 4:45
  Speaker 3: Happening, and I outline some additional regulations or the bank
• 4:51
  Speaker 3: regulators to get back in line and their statutory authority.
• 4:54
  Speaker 2: So take some action. Are we going to see that?
• 4:59
  Speaker 2: I'm waiting very anxiously and I hope so. And that's
• 5:02
  Speaker 2: what we're advocating for. That's what we're hoping to see.
• 5:05
  Speaker 1: What do you feel Senator Warren's choke hold is going
• 5:09
  Speaker 1: to do? Post election.
• 5:11
  Speaker 3: I mean, that's a big one. I mean, she is
• 5:14
  Speaker 3: the head of the anti crypto army. She she's been
• 5:18
  Speaker 3: promoting herself as the villain of our industry. To go
• 5:22
  Speaker 3: to a campaign website, you know, it says, I'm building
• 5:25
  Speaker 3: the anti crypto army. I mean, she's very publicly, you know,
• 5:29
  Speaker 3: kind of the lynchpin of this whole effort. And then
• 5:33
  Speaker 3: you know, it's kind of weird that you have a
• 5:35
  Speaker 3: US senator who has so much influence over the administration.
• 5:39
  Speaker 3: I mean, you're really really exist. They're supposed to be separation,
• 5:42
  Speaker 3: but we don't really have that. Our understanding is that
• 5:46
  Speaker 3: when she dropped out of the presidential race or the
• 5:49
  Speaker 3: you know, for the Democratic.
• 5:51
  Speaker 2: Nominee in twenty twenty, she.
• 5:53
  Speaker 3: Put all of her support behind Biden, and our understanding
• 5:56
  Speaker 3: is that there was some kind of handshake deal where
• 5:59
  Speaker 3: she gets influence.
• 6:00
  Speaker 2: Over financial services policy.
• 6:02
  Speaker 3: And that's exactly what we've seen a lot of the
• 6:06
  Speaker 3: people who are were nominated to head the agencies of
• 6:09
  Speaker 3: the financial services space. We're all, you know, people that
• 6:13
  Speaker 3: she had influenced and recommended, and it worked to get
• 6:18
  Speaker 3: into those roles. Here's one example where this has gone
• 6:22
  Speaker 3: really bad Governor Lale Brainerd, who now serves in the
• 6:26
  Speaker 3: White House. She was one of the Board of governors
• 6:28
  Speaker 3: of the Federal Reserve. I worked with her extensively when
• 6:32
  Speaker 3: she was at the Fed. She was kind of considered
• 6:35
  Speaker 3: like the fintech governor. She was one of the younger
• 6:38
  Speaker 3: members on the board, and she was really spearheading all
• 6:42
  Speaker 3: of the work and the research on walpings fintech, including
• 6:45
  Speaker 3: central bank digital currencies. Myself, my team, my members, we
• 6:49
  Speaker 3: had many, many meetings with hard that are extremely encouraging
• 6:52
  Speaker 3: and positive. So now she's at the White House. So
• 6:56
  Speaker 3: and she's very anti crypto. There's a meeting with industry
• 7:00
  Speaker 3: and the White House recently, Industry brought up the whole
• 7:04
  Speaker 3: operation choke point, this is an issue, can you please
• 7:08
  Speaker 3: do something? And essentially she denied it even existed. So
• 7:14
  Speaker 3: how does someone like Lale brainer go from that to
• 7:18
  Speaker 3: being anti crypto. Well, our understanding is that she wants
• 7:22
  Speaker 3: to be the Treasury Secretary, and in order to be nominated,
• 7:26
  Speaker 3: she needs Elizabeth Warren's nod of approval, and Elizabeth Warren
• 7:32
  Speaker 3: is not giving nods of approval to anyone that's not
• 7:35
  Speaker 3: pro crypto. So, as you know, she's up for election
• 7:42
  Speaker 3: this year in the Senate. My friend John Deeton is
• 7:46
  Speaker 3: running against her. I'm supporting John Deaton, I've endorsed John Deeton.
• 7:50
  Speaker 3: We need to take out the head of the anti
• 7:52
  Speaker 3: crypto army. But even if she is taken out, she's
• 7:56
  Speaker 3: serving in a kind of unelected way with so much
• 8:00
  Speaker 3: influence over the administration that she could even be more
• 8:02
  Speaker 3: empowered if she wasted her Senate race.
• 8:05
  Speaker 1: Okay, so we kind of understand a little bit. I
• 8:08
  Speaker 1: think in the confusion that's happening around the Democratic Party
• 8:11
  Speaker 1: right now, lack of positioning carrying over the Biden minutes, Let's.
• 8:16
  Speaker 3: Not be confused. They are anti crypto. They tried to
• 8:19
  Speaker 3: kill the industry, and that is there.
• 8:21
  Speaker 1: That's the real position right now as it is.
• 8:24
  Speaker 2: And by the way, when I first moved to DC,
• 8:26
  Speaker 2: I was a Democrat.
• 8:27
  Speaker 3: Okay. I started my career as an intern for President
• 8:31
  Speaker 3: Barack Obama.
• 8:32
  Speaker 1: Interesting, Okay, you look at the Trump campaign, you look
• 8:35
  Speaker 1: at RFK Junior.
• 8:37
  Speaker 2: Now endorsing Trump.
• 8:38
  Speaker 1: You know, he's in a position right now where I
• 8:40
  Speaker 1: think he just unfortunately was forced into that position. And
• 8:45
  Speaker 1: will this make a big enough of a difference, do
• 8:48
  Speaker 1: you think within the Trump camp. But even though we
• 8:50
  Speaker 1: saw polymarket move up like three or four percent as
• 8:52
  Speaker 1: as soon as the announcement was made, but immediately within
• 8:57
  Speaker 1: twenty four hours, Harris was back up. Is this going
• 9:00
  Speaker 1: to make enough of a difference for the independent and
• 9:03
  Speaker 1: liberal voters?
• 9:04
  Speaker 3: I personally have had the opportunity to meet Robert Kennedy
• 9:08
  Speaker 3: a number of times. I've had the opportunity to informally
• 9:12
  Speaker 3: advise his campaign, and one of the questions I always
• 9:16
  Speaker 3: had for him was, you know, it's kind of hard
• 9:19
  Speaker 3: to run as an independent in the United States of America.
• 9:21
  Speaker 3: Why not get behind Trump? And he was like, no way,
• 9:25
  Speaker 3: no way, no way about with his campaign. Have you
• 9:27
  Speaker 3: guys ever thought about this?
• 9:28
  Speaker 2: No way, no way, no way. So this was a.
• 9:31
  Speaker 3: Really big deal that Robert Kennedy is now endorsing Trump.
• 9:37
  Speaker 3: I mean, what's had to happen with you know, how
• 9:41
  Speaker 3: the Democrats have treated him and just I mean he
• 9:44
  Speaker 3: put all the elections stuff aside, all the lawsuits, you know,
• 9:47
  Speaker 3: I really, I mean that stuff can be very complex
• 9:50
  Speaker 3: the dissect and understand. Just look at how they treated
• 9:53
  Speaker 3: him with respect to Secret Service. He did not have
• 9:56
  Speaker 3: Secret Service until a couple of weeks ago.
• 9:59
  Speaker 2: How disgusting is that?
• 10:03
  Speaker 3: I mean, if you like him or not, it's basically
• 10:06
  Speaker 3: saying we hope you die. That was the message of
• 10:09
  Speaker 3: the Democratic Party to Bobby Kennedy. Whether you like him,
• 10:12
  Speaker 3: you think he's weird, you think he's great, whatever. Why
• 10:14
  Speaker 3: wouldn't we give someone who's clearly a target of violence
• 10:19
  Speaker 3: security protection.
• 10:20
  Speaker 1: Well, especially running for the president of the United States.
• 10:24
  Speaker 2: It's disgusting if.
• 10:26
  Speaker 1: By chance the Democrat Party at least allows it or
• 10:30
  Speaker 1: begins the process. Do you feel like this would be
• 10:34
  Speaker 1: something that would take years, if not possibly even another
• 10:38
  Speaker 1: administration four years from now to truly execute or do
• 10:43
  Speaker 1: you feel like digital assets is going to be facing
• 10:45
  Speaker 1: the same thing would face for the last four years.
• 10:47
  Speaker 3: There are some very specific and narrow regulatory fixes.
• 10:53
  Speaker 2: That could be implemented that would address eighty.
• 10:56
  Speaker 3: Percent of the issue innovators have building in the United
• 10:59
  Speaker 3: States States today. Really it comes down to, you have
• 11:03
  Speaker 3: the securities in Exchange Commission, extremely aggressive regulation by enforcement posture.
• 11:09
  Speaker 3: They're saying all digital assets are a security, but we
• 11:12
  Speaker 3: won't tell you which ones are. You have to start
• 11:16
  Speaker 3: operating and if you mess up, we're coming after you.
• 11:19
  Speaker 3: And that's what the past four years has been so
• 11:23
  Speaker 3: we could fix that by just creating a definition of
• 11:26
  Speaker 3: a digital asset security and putting that into law. And
• 11:30
  Speaker 3: the SEC could have done that, but they did it.
• 11:33
  Speaker 3: And to be fair, Ja, we asked Jay Clayton to
• 11:35
  Speaker 3: do that.
• 11:36
  Speaker 2: He didn't.
• 11:37
  Speaker 3: So this isn't just all Gary gensl this. You know,
• 11:41
  Speaker 3: this actually was an issue in the Trump administration. To
• 11:44
  Speaker 3: be fair, you.
• 11:45
  Speaker 1: Look at both administrations. You look at the position of
• 11:49
  Speaker 1: most likely, the Trump administration would probably get Gensler in
• 11:53
  Speaker 1: a position where he might step aside and make room
• 11:55
  Speaker 1: for somebody else. What are your thoughts on this? Do
• 11:58
  Speaker 1: you feel like this could actually happened before his term ends.
• 12:02
  Speaker 2: I've heard a lot of different things. Sour According to my.
• 12:05
  Speaker 3: Sources inside the SEC, he's toying with the idea of
• 12:10
  Speaker 3: stepping down from the chairmanship role into a commissioner role.
• 12:15
  Speaker 2: And we're hearing he is entertaining.
• 12:17
  Speaker 3: That because he may not be able to get a
• 12:19
  Speaker 3: job anywhere else because he's that unpopular. But again, this
• 12:22
  Speaker 3: tame from sources inside the STRY. According to a different
• 12:28
  Speaker 3: a different source the there you know, there was this
• 12:32
  Speaker 3: rumor floating around on the internet recently that Kamala Harris
• 12:39
  Speaker 3: was considering nominating him to Treasury secretary. So we're hearing
• 12:43
  Speaker 3: that that actually was planted by Elizabeth Warren, who actually
• 12:47
  Speaker 3: is the number one nemesis.
• 12:48
  Speaker 2: I think she's number one. Gary Gensler's more so just
• 12:51
  Speaker 2: operating out her where the other end. So, and we're
• 12:55
  Speaker 2: hearing the.
• 12:56
  Speaker 3: Reason why she did that is because they theyre then
• 12:59
  Speaker 3: planning to do some polling on how did that announcement
• 13:03
  Speaker 3: impact her base, which her base may not actually care
• 13:08
  Speaker 3: at all, because her base isn't the really crypto voters
• 13:12
  Speaker 3: and other people that are upset at the way he's
• 13:16
  Speaker 3: been operating by FIA at the Commission and using that
• 13:21
  Speaker 3: as a way to say, Okay, who cares if you,
• 13:24
  Speaker 3: you know, upset people outside of your base, Your base
• 13:27
  Speaker 3: is who you really need to appease, and if they
• 13:31
  Speaker 3: don't care, then you should nominate him as Treasury secretary.
• 13:34
  Speaker 3: So we're seeing here another potential chess play by Elizabeth Warren,
• 13:40
  Speaker 3: who again was not elected to serve in the administration,
• 13:44
  Speaker 3: but somehow has a lot of influence over it.
• 13:48
  Speaker 1: Yeah, who do you think would be a candidate for
• 13:52
  Speaker 1: the chair position? If gainst their worst step aside.
• 13:55
  Speaker 3: I actually have information on this that I'm not at
• 13:59
  Speaker 3: liberty to But depending on who's elected, I think it
• 14:04
  Speaker 3: would look very different. Okay, if Trump is elected, I'm
• 14:08
  Speaker 3: highly confident we would have a pro CRYPTOSUS serving as chair.
• 14:14
  Speaker 2: If Kamala Harris.
• 14:17
  Speaker 3: Is elected, I don't know if we have enough to
• 14:22
  Speaker 3: say that the administration would not be we wouldn't continue
• 14:27
  Speaker 3: for the anti position.
• 14:28
  Speaker 2: Yeah position.
• 14:30
  Speaker 1: All right, Well, you got me somewhat excited here, a
• 14:34
  Speaker 1: little bit disappointed at the same time. But I think
• 14:36
  Speaker 1: it also is is something that many of our viewers
• 14:40
  Speaker 1: and listeners have to understand. Reality is is that the
• 14:42
  Speaker 1: only way you change this is to get out and
• 14:45
  Speaker 1: vote and or if you're running a business, truly understand
• 14:48
  Speaker 1: what this impact is to your own business. If something
• 14:51
  Speaker 1: starts to change.
• 14:52
  Speaker 2: It's good record. Yeah, I think.
• 14:53
  Speaker 3: I mean, I've been voting as a single issue crypto
• 14:57
  Speaker 3: voter for ten years in my local election. A lot
• 15:00
  Speaker 3: of times in state and local elections, people don't have
• 15:03
  Speaker 3: a position on crypto.
• 15:04
  Speaker 1: But I'll call, yeah, where are.
• 15:05
  Speaker 3: You a crypto? I have no idea what you're talking about. Well,
• 15:07
  Speaker 3: can I come in and tell you about it? Because
• 15:09
  Speaker 3: I'm not going to vote for you unless.
• 15:10
  Speaker 2: There is support my industry and a lot of people have.
• 15:14
  Speaker 3: So that's something all Americans can do, regardless of you're
• 15:17
  Speaker 3: in politics, your business, or an you know, a business leader,
• 15:20
  Speaker 3: an influencer, whatever. Get everyone. Get as many people running
• 15:26
  Speaker 3: for office on records. If they're not on record, there's
• 15:29
  Speaker 3: not a lot.
• 15:29
  Speaker 1: We know, no way. Yeah, I think this is a
• 15:31
  Speaker 1: big deal.
• 15:32
  Speaker 2: Listen.
• 15:32
  Speaker 1: We're going to get you back on hopefully after the election,
• 15:35
  Speaker 1: so we'll get a chance or maybe even in the
• 15:37
  Speaker 1: sense where we start to see some alignment coming out
• 15:40
  Speaker 1: of the Harris camp to get some assessment of what
• 15:43
  Speaker 1: you guys think is going to happen. So it'd be
• 15:45
  Speaker 1: great to have you back.
• 15:46
  Speaker 2: Courage to be here.
• 15:47
  Speaker 1: All right, thanks so much. Are you guys are tuned
• 15:49
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• 15:52
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• 16:00
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• 16:06
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