last week on my citadel dispatch rip with ODELL (npub1qny…95gx) i talked about how unbelievable it is that the BANKING LOBBY pushing for the equal treatment of bitcoin advocating for repeal of things like SAB 121 (unfair accounting treatment of bitcoin that makes it financially not viable for banks to service bitcoin)
well, since the rip we've really been seeing the full force of that political power shift. the bill that repeals SAB 121 went through both house and the senate.
so stuff like unfair accounting treatments or bans of regulated entities to touch or service bitcoin, those things i have increasing confidence will be sorted out soon (which is good news b/c it means more ppl will be able to buy bitcoin with less friction; imagine opening your normal banking app and being able to buy bitcoin there).
the real fight now that remains in a tough place that we need to really focus our energy on feels like protecting our ability to interact with bitcoin the asset and network in a non-custodial way which governments are increasingly focused on pushing out while financial firms are trying to move closer to bitcoin.
it was a crazy week so didn't have time to post earlier but was really happy to see the peer-to-peer rights fund come together this week. everyone should check it out and donate! bitcoin policy institute doing incredible work. https://p2prights.org/
hong / Hong Kim
npub1jp…uqgsz
2024-05-24 20:44:44
Author Public Key
npub1jpvsahpy0vgq7gu8nfqjkeskce0gwjk8jpss590xkvjh5xxe4epsruqgszPublished at
2024-05-24 20:44:44Event JSON
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"content": "last week on my citadel dispatch rip with nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx i talked about how unbelievable it is that the BANKING LOBBY pushing for the equal treatment of bitcoin advocating for repeal of things like SAB 121 (unfair accounting treatment of bitcoin that makes it financially not viable for banks to service bitcoin)\n\nwell, since the rip we've really been seeing the full force of that political power shift. the bill that repeals SAB 121 went through both house and the senate.\n\nso stuff like unfair accounting treatments or bans of regulated entities to touch or service bitcoin, those things i have increasing confidence will be sorted out soon (which is good news b/c it means more ppl will be able to buy bitcoin with less friction; imagine opening your normal banking app and being able to buy bitcoin there).\n\nthe real fight now that remains in a tough place that we need to really focus our energy on feels like protecting our ability to interact with bitcoin the asset and network in a non-custodial way which governments are increasingly focused on pushing out while financial firms are trying to move closer to bitcoin.\n\nit was a crazy week so didn't have time to post earlier but was really happy to see the peer-to-peer rights fund come together this week. everyone should check it out and donate! bitcoin policy institute doing incredible work. https://p2prights.org/",
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