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To summarize, it was mostly a bunch of people who have no clue what crypto or bitcoin is talking about leading innovation in digital assets. lol. The last reporter’s question brought in the only mention of bitcoin. She asked specifically about Trump’s campaign promise of a bitcoin reserve. The answer was that the feasibility of a bitcoin reserve is the first thing they will be looking into, and mentioned that it was something separate from the sovereign wealth fund.

Another notable quote to demonstrate their level of competency: “You’ve got your actual crypto, like Bitcoin, but then what it runs on is blockchains, and there’s a lot you can do with that new computing technology.” LMFAO these people have no clue wtf they’re talking about and they’re going to “lead” in the space 🤣

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Discussion

Shadowy Badger 10mo ago

I suppose it's a step up from Liz Warren. But yeah lots of room for improvement

corndalorian 10mo ago

Your optimism is admirable 😂

Sourcenode 10mo ago

Good summary.

The first or second question was about AML and money transmission lisences. Sounded like they were open to input, but that they want to manage crypto the same way the banking system is.

I'm curious how that will work for lightning nodes.

corndalorian 10mo ago

I have no doubt they’ll want to regulate nodes and node operators. It’s digital payments infrastructure. My only question is how far out we are from them getting to that point. Months? Years? Probably not decades.

corndalorian 10mo ago

When I say “nodes” i’m referring specifically to public routing nodes.