Justin Slaughter (jbsdc)

Wondering why Genius didnt move forward on Thursday? Here’s the real scoop: First, the Trump stablecoins deal with Abu Dhabi was a big factor and created a lot of bad pressure on Dems to something about it. That probably was the first issue.

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Rumor around town is Trump is going to issue an Executive Order at GENIUS singing ceremony that Bitcoin sales aren’t covered by capital gains taxes.

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If you asked the average person in the Biden Admin or even the SEC/Treasury what they think about Vitalik Buterin, they’d say “who?”. That’s one issue crypto has in terms of US policy: a universal leader isn’t well known in govt. https://x.com/jbsdc/status/1813633513704571105?s=46&t=6pIOBuXCDYR3MDdqas9hTg

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I’m about 90% GENIUS passes into law next week at this point. Vibe/whispers in DC are that the vast majority of people in Congress and policy circles want to finally craft some laws on stablecoins and begin the process of crafting a regime for this part of crypto. The main obstacles are banks, Trump, and nonprofits.

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