Crypto Questions For Tomorrow’s Debate; Matt Gaetz Intros IRS Bitcoin Payment Bill

tomorrow’s debate

With tomorrow’s debate looming for President Joe Biden (D) and former President Donald Trump (R), the question remains… will crypto be a part of any question delivered  by CNN moderators?

Now that Coinbase’s “Stand With Crypto” has marshalled its 1 million+ members to ask CNN to, in turn, ask the candidates where they stand on digital assets, it seems likely a crypto question will be asked… unless the cable channel overrides the effort.

Currently, the schedule on CSPAN (which will broadcast a live feed of the CNN feed tomorrow) looks like:

    • 8:00 PM – Preview of CNN Presidential Debate
    • 9:00 PM – Simulcast – CNN Presidential Debate
    • 10:40 PM – Reaction to CNN Presidential Debate

See more on CSPAN.

Stand With Crypto is organizing debate “watch parties” in NYC, Cincinnati and Las Vegas to name a few.

tomorrow’s debate – the question(s)

If a digital assets question is asked, what will it be? First, it’s gonna be high level in deference to the many topics the candidates must cover.

Here are a few suggestions to CNN from blockchain tipsheet:

    • Do you think digital assets – crypto – needs its own regulatory framework?
    • Should Americans be able to own Bitcoin?
    • Is crypto – or are digital assets – a threat to or an opportunity for the United States?

Rep. Gaetz on Bitcoin, taxes

Just in time for the debates, Rep. Matt Gaetz (D, FL) has introduced a new bill which requires the Federal government to accept Bitcoin for tax payments.

Rep. Gaetz said on X, “Today, I introduced groundbreaking legislation to modernize our tax system by requiring [US Treasury] to implement a program to allow federal income tax to be paid with Bitcoin.”

He continued on X, “By enabling taxpayers to use [Bitcoin] for federal tax payments, we can promote innovation, increase efficiency, and offer more flexibility to American citizens. This is a bold step toward a future where digital currencies play a vital role in our financial system, ensuring that the U.S. remains at the forefront of technological advancement.”

Read more in The Hill.

Gensler before the election

Securities and Exchange Commission Chair Gary Gensler was interviewed at a Bloomberg Invest conference in New York City yesterday and he mostly deflected questions about crypto, politics, Mark Cuban and “getting more done” prior to the presidential election. But, Gensler concluded, “Yes, there are still some rules that we proposed and we have not yet adopted that we’re working on, but we’re not doing it against a clock. We are basically trying to promote these markets, enhance these markets, on behalf of the American public. And if I am honored to serve through my term – which is through 2026 – great. If it’s earlier. That’s democracy. Democracy in action.”

See part of the interview (3:30 in length).

Gensler also didn’t hold back on some crypto founders saying, “This is a field where the leading lights from a couple of years ago are either in jail, about to go to jail, or awaiting extradition.”

See that clip from Blomberg Live on X.

more stablecoin opinions

Letters: “Opinion: The Debt-Crisis Solution Isn’t Stablecoins” – multiple authors on The Wall Street Journal

Rep. Khanna event

According to a source, Rep. Ro Khanna (D, CA) is planning his DC blockchain roundtable discussion for July 10.

As blockchain tipsheet said on X yesterday, “Mark Cuban and someone from the Administration (Carole House?) is scheduled to participate as has been previously reported. From here, this will be the ‘pro crypto’ Dem pitch to the digital assets community or, more specifically, voters in the digital [assets] community.”

what you should know: The Biden campaign is feeling the necessity to reach out to digital asset-holding voters. Can they make an authentic case at this stage?


Also, according to the same source as the Rep. Khanna information above, a new digital assets bill from Senate Agriculture Chair Debbie Stabenow (D, MI) could happen toward the end of July – i.e. the Senate response to the House’s Financial Innovation and Technology for the 21st Century Act (FIT 21) [H.R.4763].

The last time Chair Stabenow and Ranking Member John Boozman (R, AR) proposed crypto regulation on Senate Ag was the Digital Commodities Consumer Protection Act (DCCPA) [S.4760] in 2022, pre-FTX implosion. The new bill will likely be all about the Commodity Futures Trading Commission oversight of digital assets –where appropriate.

what you should know: And, according to the same source, there will be a markup in Senate Ag by the end of July for the committee’s crypto  bill.

Politico’s Eleanor Mueller reported similar themes last week.

Get ready. The push is on in the 118th Congress… with legacies, re-elections and votes at stake.

Whippoorwill, whippoorwill has just begun.

still more tips

FTX Class-Action Attorneys Can’t Hold Up Bankruptcy Plan Vote Over Forfeiture Dispute – The Wall Street Journal

Crypto markets give Trump a 59% chance of winning. Signal or noise? – Fortune on Aol

‘Hamster’ crypto craze has taken Iran. It highlights economic malaise ahead of presidential election – Associated Press

Podcast: Ripple’s upcoming stablecoin will ‘compliment’ XRP, says Ripple President Monica Long – The Block

Louisiana’s new crypto law protects node operators, bans CBDC – Cointelegraph