Democrat “The Squad” Member Aims To Regulate Crypto
Last Updated on 5 December 2020 by CryptoTips.eu
By now, everyone around the world has heard of Alexandria Ocasio-Cortez, the New York congresswoman who rose to fame over the past few years by getting elected on a razor thin budget and sending many established politicians packing. Sheโs the one that grilled Mark Zuckerberg during his visits to congress and also the one that many see as a possible future female presidentโฆ in a decade or two as sheโs still way too young now.
Her popularity has been established though, certainly with the launch of the Netflix documentary Knock Down The House.
In her shadow, three of her friends also became more known across the US. Being on the receiving end of the Republicans and certainly of President Donald Trump, they became known as the so-called “Squad”, 4 progressive women in congressย who House Speaker Nancy Pelosi fears as much as the Republicans since many young people see these four as the future of the Democrats.
Even progressives like @RashidaTlaib can be bought by the bankers. This is evidenced by her proposed STABLE Act and her unstable rationale and premise for it. This should be a wake up call for everyone and a rallying call for the crypto community. We must continue to decentralize
— Tyler Winklevoss (@tyler) December 4, 2020
They are Alexandria Ocasio-Cortez, Ilhan Omar, Ayanna Pressley and Rashida Tlaib.
Alexandria Ocasio-Cortez, known worldwide by her moniker AOC and Ilhan Omar are the best known of the group, but the other two are certainly planning to make their mark during the Joe Biden presidency.
Preventing crypto from doing what banks did
The last one, Rashida Tlaib, is the most interesting one for the world of crypto. This week, she surprisingly launched a bill called the “stable act” which aims to regulate crypto, or at least offer some sort of blueprint for how this regulation would look like.
The proposed STABLE act suggests that stablecoin issuers and services should be regulated similar to their traditional finance counterparts.
— Krishna (@kichsr) December 2, 2020
This seems expected and timely given stablecoin growth lately.
We need truly decentralized collateral like RAI.https://t.co/g0UfkUjnft
Ms Tlaib said:
Preventing cryptocurrency providers from repeating the crimes against low- and moderate-income residents of color traditional big banks have is critically important.
Cryptofans were clearly not amused and have shown their discontent in the many reactions to her news.
One commenter stated:
This has nothing to do with race or income inequality. Cryptocurrency and DeFi is banking the unbanked in record numbers. Politicians are scared that theyโll lose authority over our money, and they should be.
Stablecoins and DeFi (the technology around them) are improving access to financial services.
— ๐ฏ๐๐๐๐๐ (@safetyth1rd) December 3, 2020
This bill does exactly the opposite of what you are claiming it does.
Then again, in Ms Tlaib they have an opponent who dare to lash out. One of her most widespread clips so far was when she told a cheering crowd that the ear of Trump was coming to an end because:
We’re gonna impeach the m*therf*cker
In other words, someone who knows how to get her voice spread across young people. Weโll have to wait and see how this plays out.
It sure is starting to look like politicians are indeed running for the hills when seeing the renewed interest of the youth in all things digital payment and cryptocurrency. 2021 is starting to look like a very interesting year indeed.
