Arthur Hayes, a crypto veteran and expert in the field of cryptocurrency policy, warns that American voters who are focused on crypto-friendly policies will be likely ignored after 2024.
Hayes writes in a recent essay that if crypto voters are looking for regulatory clarity, then they need to push the administration before the election of November.
Hayes believes that all crypto-policies should be based on the principle of free speech.
Cryptographic currencies and tokens, which reside or are powered on a blockchain, are protected forms of speech. Crypto users and intermediaries are covered by all laws that protect free speech. .” Any law that limits the ability of a person or entity legally formed to own or transfer cryptocurrency is not applicable.
Hayes says industry supporters will also lose leverage if regulatory certainty for crypto doesn’t happen before November. Politicians will not need their votes.
After the election, crypto-supporting voters will lose their leverage. Next election in two years and it mainly concerns the congresspersons who were elected for two-year terms.
Biden and Trump will not expend as much political capital in support of crypto policies, because this doesn’t affect the majority or their own reelection prospects or elected officials.
Remember that the war drums will continue to beat after the elections. Biden does not want oil prices to rise before the election. Trump killed Qasem Solimani, the leading general of the IRGC in his first tenure. He’ll have no hesitation in bombing Iran on Israel’s orders. This is all to say that the question of crypto-monetary freedom will quickly be forgotten when bombs begin flying .”
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