Crypto veteran Arthur Hayes warns that American voters who focus on crypto-friendly policies will likely be ignored once the 2024 election is over.
In a new essay, Hayes says that if pro-crypto voters want regulatory clarity in the US, they should press the current administration for regulation before the November elections.
Hayes says all crypto policies should focus on respecting freedom of expression.
“Cryptographic currencies and tokens that reside or are powered on a blockchain are forms of protected speech. All laws applicable to the protection of freedom of expression apply to crypto users or intermediaries. Any law or regulation that restricts the ability of an individual or a duly incorporated entity to own or transfer cryptocurrency shall not apply.”
Hayes also says that if crypto regulations do not become clear before November, industry advocates will lose influence as politicians will no longer need their votes.
“After the elections, pro-crypto voters will lose all influence. The next elections are in two years and mainly concern members of Congress elected for a two-year term.
Biden or Trump will not expend the same political capital supporting crypto policies because it will not directly impact their re-election chances or the majority of elected officials within their respective parties.
Please note that after the election the drumbeat of war will intensify. The only reason why Iran and Russia are not more directly targeted by the US and NATO is because Biden does not want oil prices to rise before Election Day. Trump assassinated the IRGC’s leading general, Qasem Soleimani, during his first term. He will have no problem bombing Iran on behalf of Israel. All this is to say that the issue of crypto-monetary freedom will be quickly forgotten once the bombs start flying.”
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