Chat with U.S. House Representatives: Discuss Today's Crypto Policy, CBDC, and Financial Policy

"Washington stole MMT."

The United States House of Representatives has released a crypto bill. CoinMetrics co-founder Nic Carter recently spoke with Minnesota Congressman Tom Emmer on the topic. He is the director of Blockchain Caucus and is a cryptocurrency specialist. The two sides discussed topics such as the Cryptocurrency Law of 2022, the CBDC, and Modern Monetary Theory (MMT), trying to show the impact of cryptocurrency on the existing world.

Tom Emma:A few years ago I discovered a theory called Capitalist Information Theory. This theory has a lot of experience.Growing a business is the reality of experiencing growth.As an entrepreneur like you, take risks and learn from the risks you take. Assuming you work in a truly free company, this knowledge increases. Not only are we doing better as entrepreneurs, but the life in our lives has improved dramatically. As a result, the economy really grows on the expansion of wealth. And politicians like to call it success most of the time.

Nicholas Carter: 3 million fans are waiting for you on Webtalk!It is very important to keep it synchronized with cryptocurrencies and blockchains. You always seem frustrated with the files, but how do you sync them?

Tom Emma:Frankly, the financial system has been mismanaged for decades. The Fed controls the economy and controls interest rates. An interest rate close to zero is a scam because it does not cost you the investment. You get a loan tomorrow at a real price. The White House is full of new MMT theorists who think they can print bad money if the government controls its fiat interests. Aren't cryptocurrencies a direct result of these operations?

This is what we will focus on at the end. vigorThe Fed controls the cost of the investment to reduce it., the scam is so strong that we use the word scam. However, it is not a real investment as these are the tools they use to control the investment. Thus, the capital does not go where it always goes. In fact, it's like health insurance. If we pay more for coronavirus deaths in the United States, we'll see more coronaviruses, and I wouldn't say that's happening. This is an example. Companies can be very selfish when promoting themselves. They will use this incentive to their advantage rather than letting the market do its own thing.

In my opinion, these MMT supporters are hereditary organizations that are currently at odds with people in the crypto space like you and the crypto community. The crypto community has taken its place due to mismanagement of financial policy.To do this, interest rates assume that the value of the investment will be sufficiently fixed and that the assets will return to their true value in an emergency. But the costs will remain high. What does this mean for people in the crypto community who have discovered other stores of value? People like to compare cryptocurrencies to gold. But what people do, whether they know it or not, is protect themselves from ordinary people,Intermediate interventions certainly distort activity..

Nicholas Carter: 3 million fans are waiting for you on Webtalk!I think your focus is very sharp. If you know Balaji Srinivasan, he also said that the strongest battle of the next ten years will be the battle for the benefit of cryptocurrency and modern scientists. MMT believes this is an outside group and not an established group. In the second quarter of 2020, public spending will exceed 50% of GDP. It always seems to be about MMT, like the covert use of MMT in Washington.

Tom Emma:I don't think it's a secret. I think this is very true. The people at MMT don't want to see the place. We have to admit that if we let go of our thoughts and trust in desires, aspirations and merits, this will never happen. If you look at the changes in the crypto community, prior to 2008, not much was known until Satoshi Nakamoto got confused. Financial institutions and existing schools didn't pay much for it at first because they thought it was just lightning in the bubble.

in America and around the world. While US currencies remained profitable, cryptocurrencies began to thrive. See if the destructive power of cryptocurrencies will finally prevail in the next ten years. One is about personal freedom and the other is about sending symbols to the central government.

Nicholas Carter: 3 million fans are waiting for you on Webtalk!Let's move on to one of the most compelling content for me, the silver company CBDC. Regarding the level of spending we've seen over the past two years, I'm disappointed that Republican lawmakers haven't weathered the major economic downturn we've seen since 2020, in my mind.

Speaking of inflation, I think that's interesting. I think bitcoin enthusiasts and gold traders are ideologically close because they are multifaceted. Of course, for ten years we have been asking for an increase with a reduction, but in vain. I think the exchange started with a lot of closed solutions in financial rather than real economy. Now it can generate direct revenue, which the government uses directly for businesses and households. It is therefore not surprising that there is a real financial loss. Interestingly, MMT still held up before the recession, which was the only limitation of MMT. Do you think inflation is the result of spending? Or is it reasonable for MMT to assume that inflation could be market driven or market driven?

Tom Emma:What do you mean by dreaming of a business?All commercial profit is greedy. I don't think that's the desire of the corporations because it's the product that finds its way through human activity and goes through human intelligence and wits rather than government options.But at the end of the day, we'll step out of perspective and look at what's happening in this country, not the economy today.

We need more people in Congress to start knowing.We don't want the issue of encryption to become a public issue.. But, from the government's point of view, there are those who believe in the old banking system and the old banking system and refuse to talk about new options.

Nicholas Carter: 3 million fans are waiting for you on Webtalk!First of all, we talked about CBDCs and Stablecoins. I think it's a matter of conflict that faces two options. Whether it's a private company asking for a stable fund or a public company to get CBDCs, I am critical of CBDCs. What if the Fed provided unlimited power to monitor retail sales on a daily basis? You are honest about it. What are your concerns regarding the management of CBDCs in the United States?

Tom Emma:I think the American CBDC system is the best test in the world. We shouldn't allow the Fed to look to the banks that collect all kinds of information about the United States and track their transactions. Treasurer Janet Yellen said the bill could not cover U.S. bank banks with an exchange rate above $ 600.We must protect ourselves at all costs.

There are currently two potential CBDCs. One is a bank-to-bank account where the bank collects customer data and issues CBDCs directly to individuals, allowing people to track any changes. Another is to supplement existing finances. The bank is on site and can collect exchange information such as KYC records. The problem is that the Bank of England can still track these changes on the blockchain. It's no different than the digital money we use today to pay our credit or debit cards.

Nicholas Carter: 3 million fans are waiting for you on Webtalk!I don't think all central banks are talking about rediscovering the value of cash in a digital environment. With cash, you can control where you spend your money. And it gives complete privacy. You can decide to do business with anyone. But I haven't seen a white paper that we want to develop this knowledge and apply it in the digital world.

For example, we need to be vaccinated against money laundering in this system. Even beyond the financial protection system, we need to join KYC in our system and business start-up. We normalized our care as if we forgot what cash looked like. CBDD is therefore different from cash. I was afraid the money would disappear completely.

Tom Emma:I think when the government has a very strict tax policy it means they will change differently. You create a business environment for the cash community where people trade other assets that the government can't keep up with.We are talking about the potential of digital totalitarianism, where the government has tracked all of our operations through a digital bank.In fact, the existing data can be used to create valuable data on an African citizen.

Nicholas Carter: 3 million fans are waiting for you on Webtalk!I see political finance as a clear goal of the American left.As a result of the political upheaval, there are now $ 150 billion in fixed income securities.Because cryptocurrency exchanges have been kicked out of banks. Therefore, Stabilitycoins are designed to facilitate dealing with customers outside of banking. While this is a cause for concern, it is also a direct response to a very tight and specialized financial system. So now the idea is to bring the stable money back into the business to get a business license. What do you think about this idea ?

Tom Emma:It's no different from when cryptocurrencies started. The company is trying to find ways to remove cryptocurrencies from traditional business and create blockages or conflicts that affect the market. But the beauty of this whole crypto community is that no matter what the government does to stop it, this community is looking for a solution and a way to change the value.

This is why I am so optimistic about future stability coins. The appearance of real stability parts is the result of incorrect regulations. We urge colleagues and members of Congress to pay close attention to cryptocurrencies as a solution. There are now very few new banks because it is very difficult and expensive to set up a bank and follow the existing rules. From our perspective, I think we should be more creative with governance policies or procedures than trying to push stable banks into existing financial institutions. .

Nicholas Carter: 3 million fans are waiting for you on Webtalk!Although some believe that stablecoins are not regulated under certain coastal currency circumstances, coastal currencies are placed in the US MTL financial management system, which also has a New York Trust license and a Nevada Trust license. They treat the doctor like a doctor. So you can't invest in crazy stuff. There is liquid. Depositors have the right to supplement. So there is protection. Are you trying to cross the line and create some kind of federal law or government model to provide stable payment?

Tom Emma:Yes. So I have to be very careful. When people like SEC Chairman Gary Gensler made a public statement, the community had to recognize that this could be a problem. The right to publicity is the same as the right to do so. Sorry. First of all, I want to say two things.on the rules.All the financial knowledge of people who don't know anything about people is based on traditional financial rules and has no total control. Looks like Wild West has no rights.

second,We can discuss some advanced models for fixed income securities.. Friends of the Senate discuss the many new regulators specifically assigned to the crypto community. The problem we have now is that every manager thinks they have some determination from these communities and causes frustration. From my perspective, it pushes capital offshore. I think government needs to work with industry to help businesses stabilize innovation while standing up for America. Lawmakers need to work with business to make sure we are doing the right thing. I don't think the law is the fastest way to do it, so I think you should think about the structure or the electoral process.

Nicholas Carter: 3 million fans are waiting for you on Webtalk!Interestingly, it has special standards such as the Wyoming Special Purpose Savings Institution, and is licensed by a few outsiders, but is limited by the Fed Master Account. So they can't get such a policy from the Fed. Stablecoin issuers have tried to obtain these licenses, but often fail.

In fact, I moved from Florida because he thought that the policymakers are more familiar with the encryption benefits.

One of the things that I find interesting about stablecoins is that cryptocurrencies are often described by Americans by some critics and have the words "stablecoins compete with the dollar" so they like the texts backwards . In contrast, stable coins are almost always in USD. Almost all of them are supported by financial services, the best in purchasing power, and in fact, the cryptocurrency market has expanded its international rewards.

When I talk to my fellow Republicans, I try not to make encryption behavior a community issue. So what's the biggest crypto advice challenge when talking to your fellow Republicans?

Tom Emma:I heard two major problems from the Republican side. The first is personalized. Second, there is the issue of punishment. These are two of the biggest questions I have heard many times. Now another question for me is how do I convince myself that digital banking is not the real answer.

Nicholas Carter: 3 million fans are waiting for you on Webtalk!I've seen a lot of positives on Wall Street and in the cryptocurrency market, and they see it as a lucrative place. They can also benefit greatly from crypto products. But for the most part, I think it's a war between those who want the government to control all finances and those who want private companies to be accountable. For both parties, you have described one of the key procedures for this year, the Securities Transparency Policy.

Tom Emma:I will continue to support the Securities and Exchange Commission as passed by Congress. The Securities Transparency Act will establish a new term for the investment agreement that will allow the SEC and token traders to easily distinguish between tokens offered under the contract. Security words and tokens are not included in the security agreement. significant changes. It can be tweaked and adjusted based on the current market situation, but I think it still needs to change.

Nicholas Carter: 3 million fans are waiting for you on Webtalk!We see this. We see companies starting to go offshore, they are waiting for a decision and we hope that Congress can pass more legislative changes to support cryptocurrencies. When do you need it?

Tom Emma:I believe him. In the next two or three years, I think legislation will come out of Congress that will directly address larger issues. I don't know if that means control in the industry. I want to build frameworks for these communities to grow like the Internet. In this community, I believe in creating the next generation of entrepreneurs. We can see not only how we change rates, but more importantly, how cryptocurrencies will affect our existing world.