| submitted by /u/Bitcoin1776
Being a regular cryptopanic reader I am used to shady, clickbaity or wannabe price-tweaking posts.
When I read "Wyoming drops biggest crypto regulation news ever." as headline I was like: yeah, sure. M00N S00N.
But as it was tagged Cardano, which I like a lot, and Cardano moved to this very Wyoming recently, I figured: why not treat yourself to some decent trash read.
And seriously, having been in crypto for some years, I was thinking: is this it? Is this really it? Can't be.
Long story short: I think it is, actually. It's just hidden in the worst headline in a repost (and overlongest twitter-monologue in original).
My sum up would be:
bill legitimates banks as official crypto storage and handlers. One twist of the wording of the bill is that it also gives crypto the same currency "rights" as fiat currencies in Wyoming. Other twist is that, the way it is put, it allows for the facilities, as they are defined as banks, to act all through United States, not only in Wyoming. It even fixes the lien issue.
Please read for yourself and tell me if I get this wrong. English is not my first language, neither is law my field of expertise.
Twitter-tirade by Caitlin Long (no joke) explaining the whole thing in (very much) detail (30+ consequent Tweets):
News article – more brief than the Twitter-thing – but less detailed on the wider implications:
Let me know what you think.
I’m not the first person to say this and I won’t be the last, treating bitcoin as an investment and leaving it in a wallet for years at a time does nothing for the coin or the community. As much as it puts a bad taste in congressional mouths and casts a dark shadow on bitcoin, people who use it to buy stuff on the dark net are using bitcoin for its intended purposes
You know, as a currency?
Look, I get it, when you buy in at 10 grand you don’t want to buy a hotdog with bitcoin at 4 grand, everybody’s afraid of becoming the next million dollar pizza. But putting the coin in a wallet and doing nothing accomplishes nothing (except for added anxiety)
disclamer I’m not advocating for using bitcoin to buy illegal goods, just stating my thoughts on the matter