Steve Bannon Moves into Crypto – How? Why? Doing What?

Steve Bannon moves into crypto

Steve Bannon Moves into Crypto – In August of 2017, President Donald Trump decided to remove Steve Bannon from his administration. Since then, Bannon has been the subject of scrutiny. In fact, some have recently gone as far as saying he is a man who disrupted U.S. politics. Now, however, it’s June of 2018, and Steve Bannon has moved on from politics. Specifically, he’s moving onto cryptocurrency.

Yes, you heard that right. Steve Bannon is reportedly now involved in the crypto space.

Steve Bannon Moves into Crypto

On Thursday, Bloomberg reported that Bannon has ...

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US Lawmakers Eye National Crypto Regulation

US Lawmakers Eye National Crypto Regulation

Gun control? Russia? Health care? Members of the US House of Representatives and Senate in both parties tend to differ, and often vehemently. Similar to issues of national security and war, however, it appears cryptocurrency regulation is decidedly less divisive. Both traditionally pro-market Republicans and open-minded Democrats are producing bipartisan rhetoric in support of federal legislation to tame the crypto revolution.  

Also read: Switzerland Enacts ICO Guidelines

Crypto Regulation Rhetoric Is Bipartisan

Senator Chris Van Hollen, Democrat, walked a tight rhetorical line on the burgeoning cryptocurrency phenomenon, saying, “The goal here is to have rules of the road that protect consumers without trying to squash innovation.”

Cynics have long contended both political wings in the United States are part of the same sick bird. They seem to have differences, responding to various constituencies with requisite amounts of intensity, but when it comes to guns and butter, and especially butter, cosmetic differences are set aside and a strange uniformity kicks in.

US Lawmakers Eye National Crypto RegulationRepublican Senator Mike Rounds told Reuters, “There’s no question about the fact that there is a need for a regulatory framework.” Indeed, at an open hearing under the auspice of Senator Rounds’ committee, both Chairs of the Securities and Exchange Commission (SEC) and Commodities Futures Trading Commission (CFTC) were decidedly agnostic on extending their own powers, but in agreement future focus would need to be placed upon cryptocurrencies specifically. Whether that came in the form of a dedicated and separate agency or some hybrid within existing institutions is all up for grabs.

Calls for regulation seemed to dry as bitcoin tumbled some 60 percent recently, signaling to those less literate in crypto such markets were ending in a natural death. However, across the board cryptocurrencies are rebounding, showing a resilience troubling to lawmakers. “The SEC is properly the lead on the issue. Six months ago, we didn’t see this explosion. The marketplace has changed,” Republican House member Bill Huizenga noticed. His committee is taking up the issue of crypto regulation next month, and he’s on record as supporting oversight.

Election Season Is On and Cracking

Adding to US regulatory fever is an off-year election this November. The entire 435 lower legislative body, the House of Representatives, is up for reelection, and Republicans hold a slim and narrowing majority. A third of the US Senate’s 100 member chamber is also up, and Republicans hold a slight lead there as well. With a Republican President set for two more years after, both parties see this November as a chance to alter political fortunes. American politicians typically hit on easier targets, and crypto’s considerable bad press, linking it to crime and fraud, might be just a topic to gain the electorate’s attention.

”A lot of people don’t realize there’s nothing backing these virtual currencies,” warned House Democrat Carolyn Maloney. Congresswoman Maloney wishes to expand SEC jurisdiction over cryptocurrencies.  

US Lawmakers Eye National Crypto Regulation

Republican House member Tom MacArthur cautioned, “We have to look carefully at all of the cryptocurrencies and make sure individuals don’t get taken advantage of.”

House Freedom Caucus member Republican Dave Brat gave an equivocation, “I‘m a total free-marketer, so I don’t want to regulate, but if it’s a currency that could destabilize the whole economy, you’re going to have that conversation.”

The White House, for its part, has expressed worry with regard to bitcoin and crime, but it hasn’t put forth any policy proposals as of yet. Asked about the prospects for a federal regulation agenda emanating from the Oval Office, Special Assistant to the President Rob Royce explained, “I think we’re still absolutely studying and understanding what the good ideas and bad ideas in that space are. So I don’t think it’s close.”

What do you think of the sentiments expressed by Congress? Let us know in the comments section.


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US Government Not Passing Bitcoin Regulations Anytime Soon: White House Official

The post US Government Not Passing Bitcoin Regulations Anytime Soon: White House Official appeared first on CCN

The US government won’t be passing Bitcoin regulations anytime soon, at least according to one White House official. Rob Joyce, special assistant to the president and White House cybersecurity coordinator, stated during an interview with CNBC that although the government is concerned about Bitcoin and other public cryptocurrencies, officials are still a long way from … Continued

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To counter China, White House memo suggests a nationalized 5G network

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The US government should consider building and operating a national 5G mobile network in order to boost security, reduce reliance on Chinese equipment, and to ensure that the US retains a technological advantage over other countries, according to a leaked memo from the White House’s National Security Council (NSC).

The memo and a related slide deck, published yesterday by Axios, suggests that the Trump administration is considering a surprising shift from privately operated networks to nationalized infrastructure. The presentation carries the title, „Secure 5G: The Eisenhower National Highway System for the Information Age.“

Industry lobby groups and all five members of the Federal Communications Commission have already criticized the suggestion, saying that the US should continue to rely on private industry and that carriers are already building 5G networks.

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White House government shutdown away message is a political attack on Democrats

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Donald Trump’s White House sunk to a new level of petty on Saturday, as the United States government shutdown.

Callers dialing into the publicly available White House comments line — at 202.456.1111 — are greeted with a recorded away message. An unrecognizable female voice politely explains that the government is shut down because Democrats are holding it „hostage.“

Listen for yourself. This is a recording we captured ourselves when dialing the White House comment line shortly after 6:00 p.m. ET on Saturday. Read more…

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