Bloomberg reports that the White House is considering passing an EO (Executive Order) to regulate crypto.
Its insanely infuriating to see how crypto policy is being formed. They are coming up with crypto policy designed by people with zero skin in the game.
The article reports that :
> One challenge the White House has had in crafting its plans is that it lacks a senior staffer with deep expertise in crypto who can focus on the issue, one person familiar with the policy work said. Tim Wu, a special assistant to the president for technology and competition policy has knowledge in the area, but is recused from working on crypto because of his personal holdings
This makes no sense whatsoever. Anyone who really understands crypto will end up owning it.
If you want to form crypto policy, you need to hear from actual people with skin in the game, who use crypto. Not a bunch of psuedos who have never used crypto but claim they are experts. Like that one tart from UK, Frances Coppola who pretends to be an expert, but didnt even know what a wallet was. She claimed an offline wallet cant receive coins.
They want to form crypto policy without discussing it with anyone from crypto.
Recently politicians and regulators stock investments have been under scrutiny, after it was revealed that several Federal Reserve board presidents have been counter trading stocks with insider information, knowing how their decisions will move the stock prices. This is patently criminal action, but they have been allowed to memory hole this and get on with their lives. It was exposed that one of the Fed board heads Kaplan was trading S&P minis with a minimum tick size of $1m. Other Congress/Senate politicians have also been in hot water for insider trading.
Tim Wu, top advisor to the Biden administration on technology and competition policy, holds more than $1 million in cryptocurrency, shows a recently filed financial disclosure. The antitrust expert, who is known as a prominent big tech critic, has in the past questioned the value of bitcoin.
U.S. President Joe Biden’s tech advisor, Tim Wu, is a millionaire in bitcoin, Politico wrote in article this week, quoting his personal financial disclosure. The declaration has been provided to the publication by the Brown Institute for Media Innovation at Columbia University, which requested the document from the White House. According to the disclosure Wu owns between $1 million and $5 million in bitcoin (BTC) as well as between $100,001 and $250,000 in filecoin (FIL), the cryptocurrency of a platform that offers decentralized crypto storage services. The official information also reveals that Wu’s bitcoin investment is the largest holding in his financial portfolio.
Wu now serves as a special assistant for technology and competition policy to the president at the National Economic Council. In March, he went on leave from his position as a law professor at Columbia University to join the White House. He is considered a strong critic of the growing power large tech corporations wield.
https://www.theverge.com/2021/3/5/22315224/tim-wu-net-neutrality-antitrust-big-tech-biden-administration-national-economic-council
> Tim Wu — the Columbia law professor who coined the term “net neutrality” — is joining the Biden administration, where he’ll be working on technology and competition policy at the National Economic Council.
> Wu is a prominent voice online, as one of the most well-known advocates for a free and open internet. He’s spent years arguing for the concept of net neutrality — the idea that the internet should be free of throttling or control from the government or companies that provide it.
> He’s also been a prominent voice in recent years on the subject of antitrust regulation against big tech companies like Google, Facebook, and Amazon, arguing that these companies have gotten too large and lack competition.
Tim Wu, top advisor to the Biden administration on technology and competition policy, holds more than $1 million in cryptocurrency, shows a recently filed financial disclosure. The antitrust expert, who is known as a prominent big tech critic, has in the past questioned the value of bitcoin.
U.S. President Joe Biden’s tech advisor, Tim Wu, is a millionaire in bitcoin, Politico wrote in article this week, quoting his personal financial disclosure. The declaration has been provided to the publication by the Brown Institute for Media Innovation at Columbia University, which requested the document from the White House. According to the disclosure Wu owns between $1 million and $5 million in bitcoin (BTC) as well as between $100,001 and $250,000 in filecoin (FIL), the cryptocurrency of a platform that offers decentralized crypto storage services. The official information also reveals that Wu’s bitcoin investment is the largest holding in his financial portfolio.
Wu now serves as a special assistant for technology and competition policy to the president at the National Economic Council. In March, he went on leave from his position as a law professor at Columbia University to join the White House. He is considered a strong critic of the growing power large tech corporations wield.
