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Blockchain technology is about to transform every trust-based interaction of our lives, from financial services to identity, from health care to our Internet of Things devices. In this podcast, host Laura Shin talks with industry pioneers across tech, financial services, health care, government and other sectors about how the blockchain and cryptocurrency will open up new opportunities for incumbents, startups and everyday people to interact more efficiently, directly and globally.

Jun 9, 2020

U.S. House Representative, Warren Davidson, contextualizes the state of crypto legislation in terms of widespread civil unrest, COVID-19, and global shifts in power. He explains where crypto plays a role in these paradigm shifts and talks about:

  • Why he believes in crypto, and how he came into the space
  • How his Token Taxonomy Act creates regulatory clarity for token issuers
  • What four conditions tokens would have to meet to not be considered securities
  • Other features of the Token Taxonomy Act, including a de minimus exemption for taxes and no taxation of crypto-to-crypto trades
  • How the pandemic and coronavirus-related fiscal stimulus affects the prospects for the Token Taxonomy Act
  • What he thinks about China's blockchain push and its DCEP digital yuan
  • Whether and how that creates a credible threat to US dominance in global markets
  • Whether Libra could be a counterweight
  • How a shift toward digital currencies could undermine the global reserve status of the USD and whether that affects the US's ability to enforce sanctions
  • How outcomes of the upcoming election will affect the potential passage of crypto-friendly regulation
  • Why it is easier for crypto legislation to be more bi-partisan than other bills  
  • What help he needs from the industry right now to push along crypto-friendly bills

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Episode links: 

Rep. Warren Davidson:

His House page:

Press release on the Token Taxonomy Act:

Token Taxonomy Act on GovTrack:

Text of the Token Taxonomy Act:

Letter requesting IRS clarify some crypto tax policies:

Congressman Patrick McHenry on Unchained discussing his “permanent beta testing” idea for crypto:

Unchained interview on the DCEP:

Unchained interview with Libra co-creator Christian Catalini:

Unchained with Christopher Giancarlo on his proposal for a digital dollar:

Secretary Steve Mnuchin on Libra and a digital dollar:

Video in which Rep. Davidson says “shitcoin”:

Meltem Demirors and Jill Carlson on the Shitcoin Waterfall on Unchained: