Government Regulation of Digital Asset - A global Effort
There. We go. All right coming online. See. What happens here oh, my. Goodness. All right hopefully. This is getting, ready to go live a little. Bit of technical difficulty. Started. The technical. Difficulty, yesterday. I. Don't. Know what's going on here I've got to get this thing set up trying. To get over to. My. Primary channel here, here we go, I think. I've got it going here let's see I got a I got to check this out there we go it's finally. Live-streaming. Holy crap, this. Has been a challenge, I'll tell you what. Yesterday. Was. Hilarious, you owb what's up Chinese. Bamboo. Bobby. How's, it going man, yesterday was. The craziest, thing I started, I was, putting together a video got. The video got everything all set up hit. The I got into OBS, started. The streaming and then. I started. The recording what I thought was recording, and it turned up turned out that I was that. I was streaming, instead. So I did up streaming, my video, making. Some minor changes, I ended up repeating, part. Of the section, of it was, kind of hilarious oh, it's, going on dan. Dan, was. That Joe. Quinn Joe, quim Santos. Joe, a queen. I'm trying to get this. Technical. Glitch. Resolved. Here man, so I start, so, I start today I had, set up I had scheduled, the the stream I'm trying to work and trying to figure out some, of the settings, and the, settings don't, always work. The way you want them to work so, anyhow. See. What we got going on here all, right so man. There's so much going on so. Many things that, we're, getting into just. Today as I. Was waiting for some, feedback. Some, updates, on, what's. Going on with the token, taxonomy, Act and I. Had already you. Know kind of put together the ideas I wanted, to do a video. And, and really do a livestream. Discussion. On government. Regulation, and it's, so important, right now so so many of us are really waiting, for the. Government regulation. To kick in we're a little we're waiting for regulatory. Clarity and man. There's just so much happening it's at such a. We. Need regulation, bad, that's right man it's it's getting, crazier. And crazier and, what's amazing, though as we but, what. Just happened my, whole thing just froze up. You. Guys hear me, let's. See. Technical. Issue after technical, issue let me try to switch over here no. Everything's, frozen that's, weird. Any. Guys still hear me just kind of frozen in place on the video all. Right yeah I don't know what's uh let, me see if I can transition. Out of it it's really weird the OBS just froze, up, hang. On a second. If, we can. Nope, oh you, know what ah I, just, don't plug my camera hang on a second. That's. What it is give. Me one second, here sorry about that guys I, know. How I. Yeah, activate. Reactivate. The camera there we go holy. Cow Oh any. A let's see if that that'll kick on here in a second. Yeah the video I froze the video knocked. Out the. The. Plug. Man. I don't know what it is I just I feel like I'm being sabotaged with. My with, my internet. Connection, everything else I doubled, the speed of my, of my connection. A week ago and it. Seems like ever since I've doubled the speed things have gotten worse I don't, know I don't know what that's all about, so. Anyhow. Let. Me let me get into this if the. Audio comes through bad let me know and. I'll see, what we can do so anyhow. To get to get started, let me just put, in just a little plug. In on what's going on with. The effort on helping, with the token, taxonomy, act and so, one of one of my really. My. Key passions, has always, been political. So I've been very politically, active however. Once. I saw you, know the the regulatory, needs, and. I've seen you know bills being proposed, and. And last December. When I saw the, token taxonomy, I come in I say you know what we, got to do everything that, we possibly can, to see. That. Come to fruition it's. So important, right now for this space and so. I started reaching out started. Doing some grassroots. It. Could, very well be the deep state. So. As. I've talked about on others and I just made a video, not too long ago about the token taxonomy Act so, there. There are some hurdles and, there are three primary hurdles, and. What I can say, and. Where did I put, this hang and I got I got to pull this up real quick I want to just put a quick plug in for this and then we can get in and talk more in depth about some. Other areas, of government regulation. Let, me just pull up this note this is so. I've. Been keeping in touch directly. With. The. Office, over there let me see here hang on a second this. Was important. Let. Me scroll up here okay, so right. Now there are three primary. I. Really. Went, up when I've been emphasizing and, really focused. On the. Outreach the grassroots, effort, and, it's so important. It's so critical, and really, the grassroots, effort reaching, out to. Congruent. Or congressional representatives.
In, The different districts, definitely. 100%, helps, right. Now what's happening from. The token taxonomy act side is. That they're working, towards, getting the, co-sponsors. In place, so that continuous, outreach, to. You. Know to the the financial services committee that's. Where it's sitting right now that's, exactly where. It needs to pass through with. Everything else that's going on and obviously there's there's a ton, of other things that have been pulling. The focus, and the attention, of many, of these congressional reps, away. From, what's. Really needed in this, space, specifically. But. I can tell you that there, are specifically. A number. Of congressional. Representatives. That need. An outreach, and, if if we can get some people that are watching the video if you can pass this message. Along to, do, a little bit more outreach, go down the list of the financial, certain financial, services committee reach, out to the Democrats, on that list find, out if they're in your district, that's awesome if not that's okay too but, reach out to them if you're in the u.s. then, then obviously it makes it a lot easier if you outside the US make, it a little bit more difficult, but. I would really like to see some. Focus, on Bill. Foster, he's a dam on the Financial, Services Committee but, he's also, part. Of the Congressional. Blockchain, caucus, so obviously, the, guys in the know when it comes to blockchain, what comes to digital assets, however, since, the, token, taxonomy, Act is going to go to, the financial services committee. They. Are really in need of a one for one one Republican, to one Democrat, they, need those those key co-sponsors. Democrats, to, join in bill. Foster, dem from Illinois, if there's anybody watching, from Illinois even if you're not from Illinois that's okay try. To reach out again. Bill foster, Illinois, also on the Congressional black chain caucus. Any. Outreach, to. Him would be great find out where he stands on the token taxonomy, act find, out what he's doing to, really help with. Bring. Things to. Where it really needs to, go now. Let, me scroll through here and then there's others. Even. Reaching out to Hawaii, you might think that's kind of crazy you know it's way out there. So the, Democrat, rep in Hawaii is Tulsi. Gabbard. Then. If you're in New Jersey area. If, you're in New York if, you're in Michigan, wherever you are, reach, out and try, to get through that would be that would be awesome that. Would be absolutely awesome.
Let's See here, okay. So, just looking through if you guys have any feedback comment, says I'm talking go ahead okay, that's it if you guys have any other questions on token. Taxonomy, act let me know otherwise, we're going to get, into some other important. Regulatory. Stuff. Any. Word on the lobbying, group Ripple's sent to DC don't. Know what, I do know is. That. 100%. Lobbying. Group well representatives. From ripple, from, coinbase, and many, of the others have been in touch in contact, with. Different, congressional, representatives, so, that's important, any, dates to look out for what I can tell you right now is time, is of the essence, to help, on the grassroots, side they're. Doing everything that can be done from. The. From. From the congressional, office side I'm. Talking about at Warren Davidson's, office they're. Gonna do what they got to do it. Just. Serves to backup. And support everything, that they're working on I'm, and in fact I've. Been working, with a couple others to get together kind. Of like an elevator pitch, like. A 1 minute to 2 minute video that, we're gonna send over to them and hopefully, get circulated, through. Congress, and, get in the hands of all those that need to be educated, what's crazy about it if you think about most. Of the congressional. Representatives, they're, out of touch they're definitely out of touch when it comes to digital, assets. They're out of touch many of them when it comes to technology. So, imagine. Trying to explain what, digital assets, mean, for the United States what. They mean for the. Economy the, economy of the world, imagine. Trying to explain to them exactly what, blockchain. Is and how blockchain, is such, a revolutionary. Technology, and. Probably. One of the more important, technologies, of our time and. That that's, a difficult, thing to do and you have to capture their attention you have to do it in really, a minute min and a half two minutes maximum so I've been working on some ideas hopefully, we'll. See a video put together here, maybe. By tomorrow to. Start sending out to them, to get into their hands and really, to again. Give that that elevator, pitch esta this is the key reason. Why you. Need to support token. Taxonomy, act here's the key reason why you, need to support regulatory, clarity right. Now and we can't wait any longer, so I'll. Go update, you guys as we get more details, and, more info, on, that so, anyway. Let me jump into other areas, of government. Regulation. I talked about on. The. On the on the thumbnail. Government. Control because. Even with government, regulation. There's, always. Going to be a small, issue and, it's not really small but, there's always going to be an issue of government. Control or, government, overreach, we should say hey. Li's xrp, guy, what's, up good, to see you guys on thanks. For joining in so if, you guys don't know this is Jeff with a hotter report, you're joining me on evening. Crypto, decided. To livestream tonight last. Night making a video and I accidentally, livestream. For my video, and. Then so whoever was on and got to watch the video I didn't, engage, with anybody, I thought I was just making the video is kind of hilarious, of, item I got through it fortunately. I held. Back on all the profanity. So, normally, something, goes wrong like that I'm not gonna be too. Quiet about it so. Alright. Let. Me take a look here all right so. So. Here's so government, government, control, government. Overreach. I don't. Know if you guys saw but Texas. There's a bill right now being. Proposed, in, Texas. And this is a far, overreach. Beyond, of what bit license, is in. New York and and that there's some feedback, already coming, out of Wyoming and, and you have a Wyoming, House. Of Representatives. Rep. Actually. Called. The, proposed, Texas. Crypto, laws. Specifically. Worse, than bit license and and, that is you, know significant. That is significant. So here we have Wyoming. It's on the cutting edge and then, you have Texas, and. New York and some others that are really going the wrong, direction, so, actually, Caitlin long put. Out a post and so, this was on March 14th, so this is all about a week ago when. The when the bill began, to was. Proposed. In Texas. But, her response here, was, Wyoming. Takes on Texas, because if. Because. It proposed a state administered surveillance. Apparatus for, crypto, and. She said I went to the Capitol, to try to talk to the sponsor, and the bill, in Texas, is HB 4 371. And I'm gonna read some snippets, from it they, didn't get to meet with them but anyhow so so.
She Ended, up she's. Quoted, here as in. This article which articles, is being. Crypto. Is the, is the, website, but she's, quoting here is calling it a draconian. Law, that, would do more harm than good then, she went on to criticize Phil, Stevenson, Phil Stevenson, is the one that proposed the bill in Texas. Proposing. A law that would likely eliminate. The entire digital, currency. Industry. In that, region so and I'm gonna read a couple points. Off of this it's kind of crazy so. Let me take a look here who just walked came in walked, in came, in, 179. Kevin. Getting. Ready to ask you if you've heard anything about, States. Making bit licenses, yeah, Texas. Going, a little bit further. So. Check this out, this is and this is crazy, a bill, to be entitled. And act let's, see and they want this they want. This enacted, they want this bill to come into effect September. 1st of 2019. So. Here, you go into section one let's, see chapter. Six six new digital currencies. The. Definition. So they defined digital currencies, means, an electronic, form of currency that can be, denominated. To sovereign, currency and, employs. The use of a distributed, ledger so at least they got that part right on there, they're getting the idea of what the, digital currency, is then, they talk about their, defining, a digital, wallet so they're defining all the means of the. Digital asset space before. They, recommend. Their penalty so, the, digital was the. Digital wallet means an electronic, device or. Online. Service that allows a person to pay for transactions. Using, digital currency, then, they get into distributed. Ledger means, a structured, data, representation. That grows, only by appending. New data um that goes on we. Don't need to get into all the details here the. Okay so here's here's what becomes, important, in, the bill that they proposed, and this is, verified. Identity. Digital. Currency, means a digital, currency that, allows the true identities, of the sender, and the receiver. To be known before, a person, has access, to another, person's, digital, wallet so in, essence. Here what they're saying is that you. Can only send a digital asset if, the, person's, true true, identity, is shared. With, the receiver now, then they go a step further, how. Are you going to verify the identity of. The. Of the center so verification. Of identity required. Before, accepting, payment by digital, currency a person. Must verify the. Identity of the person sending payment, so now they've, really taken out the, entire, concept. Of simplifying. And and, and you, know speeding up the transaction, process, they're, building, in a layer that. Isn't even relevant if you're, sending, somebody a credit card necessarily. Now obviously you're. In control of your of your digital asset, there's only that you you're, not you know, you. Know I guess you know if you're if you're focused on like with a credit card yo, you have your four-digit, number you have your three-digit, number with, a digital asset you, have to go through a lot more you. Know procedure. To. Make sure that you're sending somebody that, digital, asset, but. Here. They're really taking it a step further than just plugging, in a three digit or, a four. Digit code that's, on a credit card they're specifically. Stating, that you cannot, send, that.
Digital, Asset, without. Letting the receiver, know that. You know who's, sending it your your full identity a person, is not required, to verify the identity of a person sending. Payment, if the payment, is set are, sent, by a verified. Identity, digital. Currencies, not the currency, is a verified, identity a digital. Currency try, to say that you know five, times fast but, so. But, they're. At that point they're not required to ask as, the identity I mean this is kind of crazy so on this state law the, state may. Not use a digital, currency that is not a verified. Identity, digital. Currency, so, I'm trying to get a better idea and definition, of what would send the, true identity. Of the sender, which, digital, asset would do that right now you. Could potentially you. Can obviously find a solution. To attach your identity, but. This is but this is what they want so. Then we go let's, see okay, let's. See verified, identity digital. Currency awareness, the Texas, Department of, Banking credit. Union commissioned Texas, Department of Public Safety and state. Securities. Board shall, collaborate. To, encourage, the use of verified. Identity digital. Currency so the question is what's, going to be the penalty, and. How are they going to restrict, an. Individual. From using, a non, identity. Digital, currency, and if you do use a non identity, digital. Currency. Um there's. Got to be some form of. No. Penalty, so and they're not really stating. Exactly what that is. The. Privacy, coins yeah. So and they're going up and in, this case they're going away if it comes to Texas. Of Texas passes their law forget, about privacy, coins altogether, and. So. It. Really, this requires more definition. When, you look at these bills you see you, know a lot of statements here and and you would think that they would you, know clarify. But, here there's no I'm not seeing penalty, let me see maybe they they put it here and I missed it so, the. Agencies, listed in Subsection. A shall. Provide, tools for people to distinguish, a verified, identity, digital. Currency, from digital, currencies, that allow users to remain, anonymous. So, now, all of a sudden the, Texas. Government. Department, of Banking the. Department their Credit Union Commission, the Texas Department, of, Public Safety, and the state, securities, board are. Now, all of a sudden in a position, where. They're able to provide tools. For, people, to distinguish, a verified, identity digital. Currency from one that isn't so now you're online so what software, is the. Texas, government going, to write that's, going to allow you to now, identify, whether. Or not you, have and and be able to distinguish. A verified. Identity digital. Currency from one that's not now verified. You could say you, know any. Any. Non, privacy. Coin could theoretically. Based. On what they're saying here be. Considered, a verified. Identity however, it's, not sending your true, identity, when. You send, the, transaction, so, it's. Sending the wallet, address, but. It's not sending your, true identity so. Now, they're they're, requests, the requirement, is that you're going to attach your identity, to your wallet address so it's, it's you know gets it gets very convoluted, and, this is why Caitlin. Long said basically single, handedly, they pass a bill like this it's, going to kill the state, one, hundred percent from, any form, of development.
Within The blockchain space, or the, utility of digital assets at that point now. Here it says, they're. Also responsible to educate, law, enforcement, agencies, on digital currencies, so. So. Now all of a sudden you're taking, a government, agency, that no. Doesn't, know anything, about, digital. Assets, or blockchain, and now, they're, going to not only create, the tools or at least provide the tools to, have people distinguish, between these, two types of digital assets digital. Currencies but they're also going to be responsible. For educating, the, law enforcement, agencies, on digital, currencies, and, promote. The use of verified, identity digital. Currencies. It's so it's so ass-backwards. It really is this whole this whole thing is so ass-backwards, I can't, even I can't believe we just read through this you, know but anyhow let's see what what does WB have to say on that, licensing. Is backwards, rather than setting, it up so no one can participate without, a license, they should make it legal for everyone, unless they are restricted, from it as a penalty for, misconduct. Not. A bad idea you know for, sure and. Really like you said let everybody, participate. You, know if you want to simplify, isn't, it really up to and and this, goes to what about cache cache you know someone's, pain in fiat currency, I get, the goal behind this is really. Based on making, sure that it's not used for, black-market. Purchases, or nefarious, purchases, or support. Of, terrorism. Or, what-have-you. Congress, already passed, specific. Bills. Related. To making. Sure that the federal government, was monitoring, and. Establishing. Committees to, track the use of digital assets, for nefarious, purposes. But, fiat. Currency, is the currency. Of the black market, and nefarious. Purpose, so and 100%, untrackable. When, when you use fiat, currency, so, what sense is it when you're using a, digital. Asset right, now that does have a trackable, address, on that in, you, know using. The right the, right tools they could track. That back and we have seen that they they have been able to track some. Of them back to some of the larger. Issues. That, that we've seen in the space but this, is just so ass-backwards. You know it doesn't make any sense and then on the other side of it you've, got Wyoming. And so, Wyoming. Tore into this and they really, tore you know tore into it aggressively, because here we have Kaitlyn, long who, is really, one of the foremost. Experts and, has, been fighting in Wyoming, to help get, their pro. Digital, assets. Bills. Passed and and, launched, and so so.
Now It's. Just it's crazy how you see this counter balance and then we see what's happening, at the, federal level you know and the federal government really trying to tie down. At. Least a subset, within. Within the Fed within Congress right now trying. To tie down some regulatory, clarity through. The. Token taxonomy, Act so now we have all of this chaos going on in Texas and. You know really, no no clarity, whatsoever, and still, a little bit of chaos. In in the u.s. marketplace even though we do see some of the SEC, commissioners. That. Have stepped up lately with, some interesting statements. That that, really can hint towards. Regulatory. Clarity and even, one of the. SEC. Commissioners, has had hinted at or stated, that we're going to see a crypto. Spring, soon on so, that those pretty big statements, coming out of the SEC, where, we see you, know a number again a number of friendly, voices. Within. That space towards. Digital assets, then you have Texas, then you have New York then you have, whatever. Other states, are going, the opposite, way but. What's crazy is that when you look, at it from a global perspective, the. U.s. is definitely, slipping, behind at, a rapid. Rate in. Terms of, regulatory. Clarity in terms of government, taking, action, to, protect the. Space to make sure that, that. The economy. The digital. Asset economy, that, the economy that the blockchain is developing, the technology, that they're really protecting, that space and allowing. It to develop, allowing, it to flourish and allowing, the state and the country. And the citizens of that country to, truly, benefit, from what this technology, is is, creating. And, imagine. The number of jobs that, it can create, so. You. Yeah, and, and actually Stevenson, is a Republican. So it makes absolutely, no sense, and, that was really a little, bit shocking actually here it says. Linda. And I didn't see his name on there but Stevenson, is definitely on there on the, bill but, Linda manned Stevenson, both Republican, leaders. Nevertheless. They, were both sympathetic. To. The cryptocurrency industry, and promised easier and simpler policies, in Wyoming. Wait a minute that makes, no sense I don't, this is here in the article so, let's.
CCS Stevenson's, names at the top I don't know that's crazy so hang. On a second. Globally. On one of my last videos I talked about what was happening over in Thailand and the, Thailand SCC is taking such huge initiative. But. Switzerland. So. The, Swiss Parliament just approved, a motion for, a crypto currency regulation. That just happened, it. Just happened. Earlier. Today. Or yesterday. And. That that's big news so, we've already seen some big movements, coming out of Switzerland this six. Exchange, and, you know and and just overall being a friendly, open. Environment, to blockchain. Companies to digital assets in general. And, 179, -, I. Did. You end up getting oh you haven't got any or dear dad as - I haven't even, honestly. I haven't looked or haven't bought any of the any, of the privacy coins at all. Man. Looking at my video on his other laptop, and everything's, super blurry, hopefully, the voice is coming through okay. So. So. The, Swiss Parliament again, you know approving a motion for, cryptocurrency. Regulation. The reason why this is so significant. And. Definitely. Serves as a counterbalance. To what's. Happening, over. Here let. Me see your hang on a second oh yeah, there, we go I pulled. Up their website, and pulled up the bill, on. The, and now I'm trying to get it in English I don't know what's going on here if. It's, in German, I don't, speak German. Thought I had this in English, hang. On standby. Am. I gonna translate, this into English. No I, was. Reading yesterday in English I. Pull. This up and now it's in German. And I'll figure this out it'll come up in a minute let's read let's go through the article then we can go through the actual bill. Huh. Scared. All the privacy, coins. It cut other countries, are definitely, miles ahead of where we're at right now man. It's crazy I think every time I'm doing this I don't know what's look, at its look how fuzzy it is so you guys seen the fuzzy video or is it just me I'm my and I don't know you. See what my speed they sent so. Upset about these speeds it says medium, signal and even. A medium signal once. You're once you're yeah, once.
You're Browsing it over 200. Meg's, per second, I, think. I should be doing pretty good and it's, supposed to be like 250, 200, to 250 is what I ramped the speed up to and. And. It's acting worse than a dial-up. So. Let's see here all, right Switzerland. When. I just refresh, this page maybe, would give me the translate. Option again. Come on there we go ah translate. What. Language will my translate into there we go I don't know if this is gonna be good or not their website gave, me the option but, I had to translate, it through Google but. This will be interesting. Um let's, see okay. So. Here. We go so the federal council plans to submit proposals for, the regulation of crypto currencies, such. As Bitcoin. Let's, see. There was an important, statement here. Alright anyhow I don't, know it, kind, of messed things up but, so. Here we have, the. Motion so here is, why. Regulate, cryptocurrency, and this is this was on CCN, I think this is these are some pretty good statements, and again, serving as a counterbalance, to what's. Happening over here in the US but. Here we have the motion is the first step in tackling, issues like. Money laundering, extortion and. Criminal. Fraud while these are all major issues in government, backed, fiat currencies, like. The Swiss franc fiat currency, has strict regulations, in place allowing. The government to prosecute criminals. And regulate, market activity, and, unfair. Practices. Like. Price manipulation. So. So. Obviously, they're going to put together and, it doesn't really get into the, exact. The. Exact regulation, that they're putting into place but. The key here is what is that in Switzerland they, are working towards making, the space a. Completely. Digital asset. Friendly. And it says right here right in the beginning of the article. Switzerland. Has long been recognized, as a leading hub of blockchain. And cryptocurrency, technology. And. The Swiss town of Zug which is now, referred to as crypto, Valley so there's so, many, companies. That are have been flocking, to Switzerland, so many companies. That have been fleeing. The. US territory. Because. Of the unfriendly. Attitude, towards. Them now this is interesting too because this. Bill passed with a 99, or the motion pass with, a 99, to 83. Vote. So. They definitely, carried. On they attend. Abstentions. Which, is interesting, so, I would love to really get more into, exactly. What's going on in, Switzerland. Especially, as you, see different. Areas within, Switzerland. That are becoming more and more digital, asset, friendly, so oh no. Let's see let's see what we got here, all. Right here it is okay, see. If it. Okay that was so, this was they, were kind. Of quoting, what was in the, in the, proposal, in, this, motion, I can't believe it doesn't open all the way. So. Strange I wonder if it's because I had to translate, it on Google instead of on their website, but it. Was important to close gaps in protection, against abuse, crypto. Currencies could be issued to anyone with a decentralized. Cryptographic. Based. Peer-to-peer data, network a large, part of the cryptocurrencies is completely, anonymous which, favored. Extortion. And money laundering, and so. This is right on the the, Parliament. Website over, in Switzerland it. Should be clarified how. The risk could, be contained and whether the person responsible, for the crypto currency trading platform should. Be equated, with the financial, intermediaries. And subject, to the financial, market supervision, so. At, least they're taking a step in the right direction that's, all that's all we can say on that one so. But, this this was really I thought this was important, you know I thought it was it was critical, to go through all of these different, aspects. I was gonna save, you, know when I'm doing the live streams on Saturday, mornings I do a section, on government. Regulation but, I really thought there was enough to talk about you, know in showing this counterbalance. Showing, what's happening over in Texas, and I think we all have to be extremely vigilant, at. The state level, to, really identify what's. Happening, in the marketplace, so, if you, know if we kind of take the attitude that you know let the let the state government.
Do Kind of do what they're gonna do let, the the the US Congress. Do what they're gonna do and we, don't get involved and we don't. Kind. Of put. Put. The initiative, forth. To. Really help. Help educate. Help, clarify. However. You want to however you want to phrase it but, what I can tell you if you guys are in Texas. Then. I would suggest, take. Becoming, extremely, active as active as you possibly, can to, make sure that, they do not pass this. Type of a bill that we just read this HB 4 371. And make, sure that that, bill does not get passed through. The the state house in Texas, and. If it makes it through the State House then you got to stop it in the Senate but. That, but this is so, critical so and this all really, circles. Back to. Even. Being active. Within. The. US Congress, and really, making sure that we're helping that we're educating. And that, we're doing our part I can tell you that as. All of us you know we're involved, we're either watching YouTube. Videos we're, engaging in conversation. We're engaging on Twitter making. YouTube videos whatever, it might be we. Have. Significantly. More information. About, digital assets, and the digital asset space and blockchain, companies. Than, the, vast majority if not all of, those, that are representing. Us right now in in government, so, let's. See what WB has to say your digital assets are our commodities, property, property. Rights are supposed to be, respected. In the USA, you, can't have life liberty and the pursuit of happiness if you, can't spend your own money on it exactly, a hundred, percent. Which. It's, it's interesting too, because as, all of these things are happening I. Gotta find this one hang on a second, and this really has nothing nothing. To do with digital assets, however it. Has everything to do with property. Rights and, so, let, me pull this up where was it. This. Is this, is what's actually, being, discussed, right now in. The in this in the Florida, State House, and it's, kind of crazy because you, figure here's you know the state. Of Florida is the vacation capital. Of the world and yet. There's, two bills being proposed, right now. Block-to-block. Vacation. Homes meaning, private. Ownership of vacation, homes putting, a limit, on how you, can rent out your house which is really a direct, reproach. Against. Airbnb, but, it really impacts, everybody so if you're putting your house up on like a VRBO. And. You want to put it out for you want to rent it for a week you want to run it for three days you want to write it for two weeks whatever, it might be so they're, putting through, initiatives, right now and right, to WB's.
Point So I'm looking over at my other laptop where, I'm monitoring. The the, chat but. So. To WB's. Points. This. Is actually. Known, a transition, there we go I'm gonna transition, that off because it's just coming through blurry, anyhow my end but. To. WB's, point on this private. Property, right so this is there's. Two bills being proposed right now in Florida SB. 824, and again they don't have anything to do with with, digital, assets, but they have everything to do with ownership. Rights, and what, you can or cannot do with your property so the first one SB 824. Private. Property, rights of homeowners so, this, has to do pre-empting. The regulation. Of vacation, rentals to, the state requiring. Each person, applying for a vacation rental, license. So here they are pushing. Again for a license, so we talked about you, know you have the bid license, in New York and what's, the real purpose of a license, other than, providing. Another, means of revenue, for. The state it, doesn't, really help, you. They put it they frame it in a way that it's. Better for the people they want to make sure they're protecting, blah, blah blah whatever but, at the end of the day the idea of the license, is to, limit the number of people that can gain access to that license, raise, the cost of the license, and and, institute, a direct. Means of revenue, year. Over year over a year because, people are gonna have to reapply for this, license, every single year in order, to maintain, whatever. It is you're getting the license, for so in this case getting a license, for, vacation. Rental, and, this is crazy so and it falls under of course, the. Pushback would, come from the hotel industry. Restaurant. Industry, so when we look at the space with digital, assets, and we're, looking at the pushback from let's, say JP. Morgan is a, good example I think that's perfect, you know and they throw out their JPM, coin but. And you know and all the food they're spreading or in Forbes, and use you, know see the the fake articles, that, they're spreading on Forbes, you know and then you look at it say okay obviously you, know they're pushing back because, they feel like they're losing something, so are the banks beginning to lose their. Stature in. In the community because. With. With with. Ripple, with XRP with ripple net with, this new IBM. World wire you know our banks, no. Longer gonna have that position, to. Fulfill the, cross-border payments base they know they're on notice so here you have the. Hotel so. Hotels, and restaurants. Department. Of Business and Professional, Regulation. So. Obviously, the lobby is strong, from, the hotel industry in the restaurant, industry as they, want to regulate, and make, it so that people have to get licensed then they want to step further and this is exactly why you have to be, careful, of government, overreach. Because, go from government, overreach, goes, exactly to, the point that. WB just brought up which, is property, rights and and property, rights meaning, that you're you have the right of, ownership and, you have the right to do with your property as you please with your property, obviously if, they're you live in a gated community or, whatever there's, certain rules that, you're going to abide by because. You live in there but for government to place a specific. Imposition. On you because. Of. Because. Of the the, need for, licensing. So now the next, part of this is it, all this is so relevant because, an Airbnb, is let's call it a, decentralized. Form. Of. Hotels, you. Have uber, a, quote-unquote, you know in this case a decentralized. Form. Of taxi, and. Then you have the. Digital assets, obviously a, decentralized. Economy. And. So here. You see that, though those the, legacy, systems, the legacy, providers, are fighting. Back and trying to maintain their. Significance. And their relevance, in the marketplace, so, here. You have bill HB, 9. 8 7 vacation. Rentals, so. It's a continuation, so, the first part. Of the the submission. Of their bill has, to do with, licensing. Oh here you go see now my my signals, fading out so it's, obviously the hotel. Lobby must, be, attacking. Me over here so. It's trying that kills. Me that the signal, fades out like that so, here. You have HP 9 87. Vacation. Rentals preamps. To state regulation. Of vacation, rentals with. Exception. Revises, application. Requirements. For vacation, rental, licensures, but, here's uh, where. Is it. Wasn't. On this one all right but any of this this is the bill that, actually puts, a limitation. On on. How, long you. Can rent out your property as, well so they're trying to put in regulation. That you can only rent out your property one. Time per month and they're trying to pass specific. Bills and actually, there was a court case, that.
That Just, happened so, as so. As you have the. All. These laws coming through in con in the, State House in Florida there, was actually, another, court, case that. Just happened, in Miami, let. Me see if I still have that one up that was an interesting court case I might have closed it summit. Senate bill 824. Read. That one let. Me see here 1987. Shoot. Where did I do with it I had this good court case that was up but anyhow so it, ended up that it went to the court of a court, of appeals and, was in Miami and the city of Miami ended up going after it and they put in their, requirement. And regulation. As well so further, government overreach, so they put a stipulation, that, you can only rent out your property one, time per month so they're trying to nullify and, kill, an Airbnb. Or a VRBO, or whatever it might be and there's, there they're using. As an excuse. They. Try, to use the excuse of a spring break on that you know it's bringing too many crazy people to. The area young kids you know causing an issue you, know just like you know the banks or Swift is going to continuously. Fight. Back, and they're going to have their Lobby in. Washington. That could be serving, as a blockade. You know who knows -. The. Token taxonomy, Act so even though and and these are all the different hurdles, that you have to think about you have the legacy, systems, out there that you, know don't want to be displaced, you know so what. Happens with the legacy systems, they're the ones that really were first and market they're the ones that had other, majority, of the money at. That time or even now they might even have the, relationships. Even if the new technology, has the money they, don't necessarily have the relationships. So the new technology. Have they've really have to fight for. Those relationships. And so the company, can fight but, it's the grassroots, it's the users, who really have to show their face and get, to whether. It's city government, whether it's state government, whether it's federal government, doesn't matter to, really put, the put out the point and really, send, out the message, to, these congressional, representatives, that hey I'm in your district, and this is important, to me and there's thousands, of other people like me that find, the significance. Of this. And the lobbyists, the tech team who are giving you and feeding, you false information, and that's what the grassroots, efforts all about you, know but I can tell I can tell you just from personal experience, that the grassroots effort actually. Does help because, it's your voice and these, people are elected. By us. These. Are you know the represent, the, representatives. So we're, electing them and they. And our interest, at least they're supposed, to so, when we don't hold them accountable to. What they're supposed to represent then. They don't represent our interests, so, accountability. Is huge so. By making, sure that you that, you've focus. In on that, effort of accountability, that's. Where they begin to represent, our interest, so, I went, kind of on a long tangent, there if, you guys have any feedback. Comments. Anything that. Anything. Else that you would like to engage on any questions. This. Would be, a great time to, ask. Right now so, if you haven't done so already I've. Got a, give. A thumbs up. Comment, question. I. Like to keep these two, an hour so I'm going to wrap it up here by, 11. Plus. I got to get up early in the morning so. You. And yeah there's no. No specific, questions. On. This space I'm gonna, wrap it up a little bit early I definitely. Look forward to seeing, you guys Saturday. Morning, at. 8:00 a.m. for another live stream really, glad you guys took your time out to to. Watch to engage a little bit on, this live stream even, though I keep getting a little bit of technical. Glitch here and some, freezes, so. Let's. See o WB. Just threw something else out here no, one really asks what, we spend our cash on exactly.
You Know what that's that's that's the point and that's, the point that needs to go to, to. The state house in Texas that, exact, statement, is that nobody, has asked, nobody, monitors, you, know nobody's, making. Us provide, ID. Or you, know every time we go and spend cash even. If I'm gonna you, know if you own a store and I'm gonna use my credit card nobody, asked for an ID nobody. Even looks at the at the signature, anymore you, know just you you plug it in put the chip in and you use the credit card what if what if those credit cards were stolen, nobody's. Gonna know at that point if it hasn't been reported but. That that's the point and now here they are trying to handcuff. Those. That want to use digital assets, and you. Know again it's it just push back some. Lobbyists, something, got into their heads obviously. They're operating, on misinformation, as. They're trying to provide not, just government, regulation, but government, overreach so, that is really the theme and. The further, theme and message. Beyond, that is make, sure you hold your representatives. Accountable, so, with that I'm gonna wrap up again totally, appreciate all you guys glad you came on to watch and spend. Your Thursday, evening, here with. The huddle report on evening. Crypto, look. Forward to seeing you guys Saturday morning, 8:00 a.m. until that time keep, on huddling, your. Crypto.