Episode Transcript
[00:00:00] Out of cycle update.
[00:00:03] Can Joe Biden snatch your cryptocurrency? Cryptotalk FM. My name is Leister. I'm your host. That's the headline spinning around social media right now that allegedly the White House can take your cryptocurrency out from underneath you or more specifically, block you from transacting on cryptocurrency for which it originates or has a destination to or from the United States. That's what's happening. There was some legislature, some people on social media pointed out snippets in this that made reference to digital assets recorded on a cryptographically secured distributed ledger or any similar technology, a part of a system to leverage or replace blockchain or distributed ledger technology.
[00:00:44] Foreign digital asset transaction facilitator involving an exchange or transfer of value using digital assets. The target specifically calling out digital assets. Specifically calling out foreign digital assets.
[00:00:58] If you know cryptocurrency, the vast majority of them either originate from or going to the United States. And so this caused people to think that the Biden administration is trying to do an end run. They can't attack cryptocurrency. They can't block it. Gary Gensler, fail. So our plan B is to simply attack the transmission of cryptocurrency to and from the United States. If you're familiar with similar laws like the Patriot act, it's the same concept. The idea that you can think if it's coming to or from a foreign actor, that it could be money laundering, it could be illegal, and we'll just lock it down and then try to force american citizens to only go to. Duly accepted, duly noted. Duly authorized exchanges, which essentially limits you down in terms of what cryptocurrency you can transact. Do I think this goes anywhere? No. Do I think this is a lockdown? No. Do I think it's good that they're defining it? Yes. Do I think that he's going to get attacked? Yes. Do I think he, it's almost like he doesn't want to be president for another term and he's trying to sabotage his business, because meanwhile, on the other side, the other guy, Trump, just went up there and said, I'm the president of cryptocurrency. He literally just called himself that. So you. It's a clown show. It's all theater. It's a clown show on both sides. You got Donald Trump calling himself the president of cryptocurrency, accepting cryptocurrency donations, telling the world that if you want to support cryptocurrency, you better vote for him. Then you got the Biden administration where Gary Ginsler is failing left and right to up to Sunday. His own Democrat supporters at the past now are turning against him. And then he does this business. It's theater. They're all there. Both sides are going against you, and they're trying to get you to turn on each side. Meanwhile, both of them are incompetent, if you think about it. So I don't think that this is the ban or the lockdown. It's being presented as. Is it a little bit of a slippery slope? Yes. Is a little bit of a concern? Yes. Because, but think about it. How are you going to enforce such a thing? I guarantee you at the state level, they're going to be like, screw you, bro. There's no way to enforce this. And even if we would, there's no way that we can. So, no, I don't think it goes anywhere, but it tells you where the Biden administration's mind is at. Again, I think he's just trying to sabotage his own campaign. That's just me that tells you where his mind's at. If you want to support cryptocurrency, he certainly wants you to be limited in what the options are. So if you're cool with that and you want to be protected and you want to be kept safe and you want somebody else making decisions for you, you know how to vote. It's certainly not for Donald Trump. It's for Joe Biden. So if that's what you want to do, do that. You heard it straight from the horse's mouth. Allegedly, right? This laws passed, and it's going to lock down crypto and restrict what you can do. That's allegedly what the future is. If you're okay with that future, by all means.
