https://void.cat/d/41b26zYA5hHFi7DGQ4utj4.webp
Gustav: Dressed up in anti-money laundering language, a prominent US Senator is attempting to float legislation that is so broad it would effectively ban Bitcoin in the United States. Backed by Wall Street Banks, there have been renewed calls for the US Government to do something about Bitcoin. Like a swarm, thousands of individuals and groups have been organizing against them. Based upon the Senator's track record, it is unlikely to pass.
But this pattern is repeated constantly, to the point that it is now the norm in that country across the ocean. Industry insiders propose legislation that protects their business models. They contribute to politicians who champion their issues. The legislators outsource the writing of any laws to industry experts. And they then attempt to pass them, usually without reading them.
The only things that has prevented the United States from accelerating into full, plutocratic oligarchy is the gridlock caused by political divisiveness.
Bitcoin adoption must increase. The only reliable counter to this in the intermediate term is to make Bitcoin a political third rail. Have so many people own it, no politicians dare to meddle with it.
In the long run: The tightly coupled relationship between the Central Banks, National Treasuries, and large investment banks must be broken.
Wall Street must be reformed, and the concept of "Too Big to Fail" must become anathema.
#bitcoin #politics #wallstreet #hodl #keepstacking #getoffzero #bitcoinadoption
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