crypto

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바이든 행정부의 암호화폐 행정명령 검토 소식을 다루며, 행정명령 자체는 실질적 효과가 적고 2022년에야 규제 진전이 있을 것이라 봄. 규제는 오히려 제도화·ETF 등 채택 확대로 이어져 긍정적이라는 입장. 테더 준비금 불투명성과 스테이블코인 이자 상품의 위험도 지적함. 포트폴리오 내 암호화폐 비중은 8~10% 목표이며 이더리움에 투자할 의향을 밝힘.

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01. hey everyone meet kevin here wow the biden administration is now considering an executive order on a crypto currencies i'm gonna break down what this means in this video let's honestly just get right into it uh but first if this makes you nervous just go to life sign up for life insurance in as little as five minutes and you'll feel a whole lot better especially since you can apple pay or android pay for it okay let's get into this so here's the thing by the administration is considering an executive order as part of what they say a government-wide approach to the white hot asset class the proposed directive would charge federal agencies to study and offer recommendations on the relevant areas of crypto so so far that basically means nothing well first of all a an executive order in general can often literally mean nothing that's because an executive order is just really a recommendation of the president to encourage agencies to do something a certain way the problem is the agencies a lot of them the agencies that we have don't know a thing about crypto in fact get this bloomberg sites scroll all the way to the bottom here the most knowledgeable person that they were able to list here who uh has a lot or deep experience in crypto is quote recused from working on crypto because his personal holdings include one to five million dollars in bitcoin and as much as 250 000 in file coin yeah i don't know what the heck that is but come on we're gonna expect all of a sudden an executive order from biden to get uh uh to actually get regulation going from uh or about crypto from our agencies i doubt it i'm not super worried about this at all but let's keep going in some of the details and most importantly what they're really trying to accomplish here what the government is trying to accomplish is finding a way as they say here to streamline and coordinate how the agencies are going to deal with crypto in my opinion this is actually a good thing because on one sense you want to coordinate the irs in how it's going to tax crypto on another sense you want to coordinate agencies and their ability to take crypto as payment look i would love for our state governments our dmv or all these places we hate paying money to to finally accept bitcoin or ethereum or ada or dogecoin whatever as a form of payment like these are things that could come regulation does not necessarily have to be all bad and as many have said before especially sec secretary gary gensler he believes regulating crypto is actually somewhat bullish because if you think about cars when they were first created we had no regulation for cars almost nobody used cars because they were dangerous now i know a lot of people especially people who watch this channel are interested in cryptocurrency so we have a little bit of a skewed audience but when we look at america broadly most people are still somewhat or relatively fearful of cryptocurrencies it's a fear of the unknown it's something that intuitively is hard to value or to understand valuation by and generally when it's in the media it's associated with scams so this is where sec chairperson gary gensler says hey look if we regulate just like we regulated cars by mandating seat belts and stop signs and traffic signs and rules of the road then you can actually create broader adoption of crypto this is why i personally believe that 2022 might be the year of crypto where we finally get regulation it's not as scary or fearful as people think it will be because i personally think that our congress mostly tries to do what the most people want and a lot of people are pro new monetary innovations they're pro defy they're pro uh really things that can create faster and less expensive forms of transacting uh in business uh so not everybody who knows about crypto knows that we can accomplish those things but with a bit of education and clear-cut regulation i think cryptocurrencies are things that folks shouldn't be against now maybe i'm too much of an optimist so i'll give myself that as a potential risk factor but then again my goal is to keep cryptocurrencies to no more than eight percent of my portfolio maybe 10 we'll see what kind of mood i'm in but you see it's not like i'm all in but i want to be clear and transparent with with my holdings now at the moment there has been no decision as to whether or not this executive order will actually be issued there is a draft directive that is part of the white house and it's really to just create a broad-based strategy for digital tokens now they didn't mention it in this particular bloomberg release here but we already know that there's a lot of fear uncertainty and doubt around regulating stable coins that's because bloomberg they just did a whole expose on trying to find out where tethers holdings are and uh i mean they wrote probably an article that would take 15 to 20 minutes to read which is pretty long article talking about how they interviewed people and how they hunted people associated with tether and they could not find where tether holds its underlying dollars because tabling is tether in case you don't know is technically a stable coin which is supposed to have one dollar of assets for every stable coin that exists but if those assets are like funky junk bonds that are earning high dividends somewhere and they have a risk of bankruptcy then there's a risk that tether could break the buck and tether is a huge part of our cryptocurrency ecosystem it's kind of like back in january of this year when i did a video on the stable coins that gemini has i looked and i saw wait a minute here they are saying you can earn interest of five to eight percent on your gemini dollar and then they put notes like oh it's fdic insured and it makes it seem like the gemini token is an fdic insured savings account but it really isn't because when you turn on interest you're actually lending out your money to someone else you'll never be able to redeem that dollar at the bank if there's a panic because you've agreed to lend it out that's why you're getting a return but it's not obvious that you've lent it out because it still shows up as in your account right and so even though the underlying deposit of gemini dollars like the real us dollars that back it are fdic insured your money isn't and so these are sort of the in my opinion confusing things that honestly deserve regulation because i think people are somewhat being misled in what happens when they take the risk of taking a yield on stable coins and so i think there's going to be a big movement on this crypt stable coins weren't specifically mentioned here but the only thing we've really heard the federal reserve and janet yellen the treasury secretary talk about when it comes to cryptocurrencies like one of the first things out of their mouths is regulating stable coins so you know this is what's going on uh no and remember janet yellen is basically an extension of joe biden at this point she is a the political arm of money for joe biden now it does say here that no decision has been made on whether or not to release the order even if president biden doesn't move forward with it the administration will still make public its overall strategy for cryptocurrencies so we're still going to be getting some kind of announcement from biden right now we're kind of just getting a preview that something's coming robinhood put out a statement that regulation on cryptocurrencies could hurt and payment for order flow could hurt their business so they really quickly 8k this i'm honestly not so worried about either of those getting regulated out of out of existence as much as we hate payment for order flow i'm not super concerned that uh it's going to wet going away and and it'll bankrupt robinhood or whatever it is a possibility though and i know a lot of people here don't like robinhood that's fine okay i'm not showing for robin hood i'm just saying i don't think it's going away that's my opinion all right moving on financial regulators appointed by biden are taking an increasingly hawkish tone about the purges burgeoning crypto market as they seek to step up oversight expressed concerns about the lack of investor protections this is true there's no sipc insurance for example if your money gets hacked it's like who pays right who's responsible how do you know where your wallet's safe where it's not national security agencies across the admin are also grappling with high profile cases of digital currencies playing a role in ransomware attacks like the colonial pipeline earlier this year and remember what happened we just had the uh uh what was it the board ape uh creator bailed after selling his uh crypto uh uh uh you know crypto nfts and uh not delivering on his promise to follow up with the fringe benefits of the nfts bailed with a few million bucks i think it was just under three million dollars but anyway uh a lot of uh scrutiny uh it also says here this push is being led by lobbying by powerful players in the industry arguing that increased regulation risks killing jobs in the in the crypto space so i imagine like coinbase and block fi and some of the big ones are are trying to step into like hey don't go crazy with regulation here which by the way if you want a credit card that pays you in cryptocurrency rewards go to medkevin.com bf that's my kevin.com bf like block five kevin.com bf check that out now uh this draft has been circulating with clarify responsibilities of various agencies tasked them with examining relevant topics and reporting back their findings none of this is gonna actually take any meaningful effect until 2022 in my guess i mean come on how much working time do we have left here we're almost at we're like six weeks away from thanksgiving then everybody's gonna get off for the holidays nothing's happening in 2021 my guess uh washington policy makers have struggled for years to come up with a comprehensive approach to digital assets uh they talk about are digital currencies actually investments are they commodities are they currencies right it makes sense that this should be regulated my opinion somewhat unpopular in the currency space but you know me i just just tell you like what my thought is i personally think a lot of cryptocurrencies are just crypto assets they're investments they're like stocks right that's the way i look at them at least is kind of like a stock but that's just my opinion the administration's effort is being coordinated by the white house led by the national economic council okay look you remember who the last chairperson of the national economic council was let me give you a hint we're gonna have a v-shaped recovery remember that guy why can't i remember his name um i just had his name at the tip of my tongue too larry larry mr v-shaped recovery larry what's his last name you remember his last i can't remember his last name larry something uh anyway he's the director of the national economic council under donald trump and he would always every week come on i think we're gonna have a v-shaped recovery everything's getting better it's great uh larry larry maybe it's because i just ran a campaign against larry elder i kind of like replaced this person's last name but anyway larry they never forget the guy anyway like if people like that are running the national economic council i don't think larry's like the most expert at uh cryptocurrencies and i know there's a different director of the national economic council now but again the most expert person who is a deputy assistant to the national economic council is this tim wu person but again is not allowed to work on crypto because he invests in crypto like ah come on so you're saying the most experienced person can't uh can't actually help contribute uh anyway even as the broad crypto strategy remains under development the biden admin is facing uh work on digital assets uh which started slow has been ramping up justice department on wednesday launched a new national currency cryptocurrency enforcement team to investigate and prosecute the misuse of cryptocurrency so okay new teams coming new regulations coming new ideas coming big deal not worried about any of it personally bring it on i'll put all my cash into ethereum right now on a bet that this this biden stuff is nothing more than fear uncertainty and i actually think it's gonna be positive because it's going to open up the door to crypto etfs more uh standardized products for crypto more securities for investors so that way finally my father-in-law who walks around with a blockfly shirt can finally actually invest in cryptocurrency as well rather than just don the merch but anyw bye