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1/ Mr President—#Wyoming, the state that gave you the highest margin of victory in 2016 (even bigger than Reagan), welcomes law-abiding #crypto companies & created a new type of bank charter to allow them to comply w/ the law. You are just wrong on this—ur staff is misleading you
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2/ Your staff isn’t giving you good advice (I don’t see anyone on your staff who has experience in this new asset class). The US payment system hasn’t really innovated in 50 yrs—it’s unstable & inefficient. I’ve been surprised that your administration has coddled it instead of...
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3/ ...opening it up to healthy competition. The #crypto genie can’t be put back in the bottle & if the US fights this we will simply be bypassed by other countries that are welcoming it. Banks tried to shut down #crypto by shunning the industry & look what happened—it didn’t die.
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4/ Why? Because this is the first serious payment innovation in decades. Yes, #crypto is used for illegal activities, but much less frequently than the dollar is—& crypto is easier to track (check w/ the FBI!). Mr President, you don’t need to choose between #crypto & the dollar!

Jul 12, 2019 · 1:15 AM UTC

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