CryptoTruth

Moving through Congress like a Virus
The CLARITY Act is moving through the Senate Banking Committee, with a markup possibly slipping into May.

We can already guess how this will play out. Lawmakers are calling it the “CLARITY Act,” which is really just a backronym, wordsmithing at its best. By the time it makes its way through Congress, “clarity” will likely mean something closer to muddy water being called filtered water.

Driven into Crypto
Those of us who were driven into crypto because of what the political class has done to the dollar are clear on one thing: self-custody is about as clear as it gets. SCIACAITS, Self-Custody Is About As Clear As It Gets.

On Clarity
On the surface the CLARITY Act promises clearer rules for digital assets. But from a first principles lens, I have to ask: “is this real progress toward permissionless innovation and self-sovereignty, or simply another layer of centralized compliance that favors institutions and keeps individuals dependent on approved gatekeepers”?

Let that sink in for a moment. We have to look at these things for what they are, not what we wish them to be.
Regulators always say the same thing. They claim more rules will make the market “safer.” Yet after decades of their oversight we still have rampant money laundering through the traditional banking system. We had the 2008 financial crisis, which was not just a crash but a direct consequence of the very centralized monetary and regulatory structure they defend. The full force of that fallout is still rolling through pensions, housing, and debt burdens today.

Why was Bitcoin created?
That is exactly why Bitcoin was created in the first place, as a direct response to a system that repeatedly fails the people it claims to protect while protecting the institutions and the people that caused the failure.

Sound Economics
True sound money and decentralization do not need permission from regulators. They thrive when rules are verifiable and chosen by users, not imposed from on high for us.

We will see what version actually emerges. My lens remains the same forever: “Any framework that increases control over how a free people hold and move value should be examined closely”. 

 

If it violates individual freedom, it should not stand.

-CryptoTruth-
Seeking clarity in a chaotic world

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