The US Office of Government Ethics issues a legal advisory barring federal workers who own crypto from working on cryptocurrency-related policy and regulation
for now — allowed to hold and trade cryptocurrencies regardless of the work they do. About that: https://www.businessinsider.com/ ... https://twitter.com/... Will Diamond / @wdiamond_econ : In order to maintain my objectivity as a scholar of banking crises and regulation, I have decided that I need to close my bank account. https://twitter.com/... @hdevalence : do this for houses next https://twitter.com/... @coloradotravis : This is good, and a step toward preventing regulatory capture on the issue. NB: those offering banal tu quoque rejoinders in the comments will be muted — regulatory capture is bad, even if it's concurrently happening elsewhere. https://twitter.com/... Ron Hammond / @ronwhammond : This is a tough one IMO. I know regulators who are struggling to attract crypto experts due to similar rules. Parity to TradFi rules is important though. I purposely didn't hold crypto when I was writing crypto legislation and that made learning difficult https://www.oge.gov/... @coindesk : U.S. officials who own cryptocurrency have been disqualified from working on regulation that could have a “direct and predictable effect” on the value of their personal holdings by a government watchdog. @cheyenneligon reports https://www.coindesk.com/...
Announcement from the US Office of Government Ethics: Government employees who hold cryptocurrencies are disqualified from working on any crypto-related policy or regulation that could impact the value of their holdings. https://www.oge.gov/... https://twitter.com/...
🤦 this is the equivalent of “those that are working on internet policy are not allowed to use the internet.” I wrote the White House memo on Bitcoin in 2014. This is shortsighted. https://twitter.com/...
“Cryptocurrencies and stablecoins do not meet the definition of ‘publicly traded securities’ for purposes of these exemptions. This is true even if individual cryptocurrencies or stablecoins constitute securities for purposes of the Federal or state securities laws.” https://twit…
Nearly everyone who understands crypto owns some. So this guarantees that anyone regulating crypto won't understand it. Well played, Gov! https://twitter.com/...
For consistency, government employees who hold dollars should be disqualified from working on any dollar-related policy or regulation that could impact the value of their holdings. https://twitter.com/...
Next: people who hold stocks cannot work on US economic policy or use electricity can't work on US energy policy or eat food cannot work on US agriculture policy https://twitter.com/...
us office of government ethics legal advisory notice, paraphrased “only us government employees who completely lack any understanding of cryptocurrency and stablecoins or who actively dislike them shall be permitted to work on us crypto policy” https://cointelegraph.com/...
as this thread notes, this does not apply to congress. there are members of congress who have crypto and work on crypto policy. https://twitter.com/...
Of note: This does not affect Congress, as lawmaker and Capitol Hill staffers are — for now — allowed to hold and trade cryptocurrencies regardless of the work they do. About that: https://www.businessinsider.com/ ... https://twitter.com/...
In order to maintain my objectivity as a scholar of banking crises and regulation, I have decided that I need to close my bank account. https://twitter.com/...
This is good, and a step toward preventing regulatory capture on the issue. NB: those offering banal tu quoque rejoinders in the comments will be muted — regulatory capture is bad, even if it's concurrently happening elsewhere. https://twitter.com/...
This is a tough one IMO. I know regulators who are struggling to attract crypto experts due to similar rules. Parity to TradFi rules is important though. I purposely didn't hold crypto when I was writing crypto legislation and that made learning difficult https://www.oge.gov/...
U.S. officials who own cryptocurrency have been disqualified from working on regulation that could have a “direct and predictable effect” on the value of their personal holdings by a government watchdog. @cheyenneligon reports https://www.coindesk.com/...