26th March 2022 > > US politics and crypto regulation.

tl;dr

Cryptos are such a powerfully positive force for good, they can unite politicians from across the political schism in the US.

Market Snap (at time of writing)

Market Wrap

Open interest (O.I.) is straying into territory that often precedes a sharp move in one direction or another. The shorts are over-leveraged as demonstrated by that negative perpetual funding rate. If you are short via futures, then you need to be very wary right now – a short squeeze higher could easily be precipitated at any point this weekend.

Even in the absence of that short squeeze, we have all been enjoying the recent recovery in the price of BTC. We have got close to $45k three times now in March but the biggest hurdle will be that magical $50k number. A breach of that will bring fresh investment into the market.

Occasional Series – Knoydart

The ambitions of Curious Cryptos Ltd. for international expansion as part of our global domination strategy are well known to all of us.

Negotiations over the last few days for the location of our very first overseas office – to be staffed on an irregular but frequent basis – in Knoydart are proceeding at a frantic pace. The outcome remains uncertain at this stage.

Curious Cryptos’ Commentary – Ukraine crypto scam alert

Here at CCC towers, we take a keen and ongoing interest in the plethora of crypto scams. This is an important topic – we want you to be safe personally from these feral scumbags, and we worry about the broader damage done to the reputation of cryptos.

This is such an important topic, the whole of Module 2 of our training course has been dedicated to explaining the mechanics of scams (https://www.curiouscryptos.com/cccourses).

Ever entrepreneurial and alert to new opportunities, the war in Ukraine has become a focus of the scammers’ activities. Fake requests for fiat and crypto contributions to help Ukraine have popped up both in web form and as emails. There are just two of the many examples:

If you do wish to support Ukraine in their fight against psychopathic Putin and his murderous henchmen, please do your due diligence first.

Curious Cryptos’ Commentary – US politics and crypto regulation

Following the recent executive order issued by POTUS Joe Biden (see CCC 9th March 2022 available on our website https://www.curiouscryptos.com/blog) Treasury Secretary Janet Yellen appeared to be softening her traditionally hypercritical views of cryptos, with an ever so slightly lukewarm response to the demands of her boss.

However, she has now gone further. In a recent interview with CNBC, her conversion to the fighting the good fight is truly underway:

"I have a little bit of scepticism because I think there are valid concerns about it. Some have to do with financial stability, consumer/investor protection, use for illicit transactions and other things. On the other hand, there are benefits from crypto, and we recognize that innovation in the payment system can be a healthy thing."

She added:

"Crypto has obviously grown by leaps and bounds. And it's now playing a significant role—not really so much in transactions, but in investment decisions of lots of Americans."

Janet appears to be a little confused as to whether cryptos are simply a means of payment or simply an investment, but the gaps in her knowledge will be easily rectified by a daily dose of the CCC.

An increasing number of crypto converts amongst senior politicians can only be positive for the constructive development of crypto regulation.

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Most people will not be surprised to hear that in general the political make-up of a state’s legislature in the US has been a key indicator of that state’s approach to the crypto industry.

This contrast could be seen most starkly when comparing Wyoming (reliably republican) to New York State (deafeningly democratic). Wyoming has gone out of its way to encourage and foster crypto development and innovation. NY until recently banned all crypto business within its borders.

That all changed during the recent mayoral elections for NYC, and this conversion of crypto opponents to the cause is continuing.

Cynthia Lummis (senator for Wyoming) has long been both a vocal supporter of cryptos and a holder of BTC. New legislation being drafted by Cynthia to clarify the roles of the Securities and Exchange Commission (SEC) and other agencies regarding cryptos is soon to be published.

Word is that this bill is to be co-sponsored by Democratic senators from both the east and west coasts.

The political schism exacerbated by the toxic years of Trump’s presidency is clear for all to see.

The fact that cryptos can unite politicians from across this political divide is testament once again to the powerfully positive forces about to be unleashed upon us all by cryptos.