Political Quotes

“Mr. President, the decentralized finance industry is in its infancy. It is a new technology in the digital asset space which enables two individuals to exchange cryptocurrencies without a third party sitting in between them. Although that sounds straightforward, the technology holds potential for technological and financial innovation that we are just beginning to explore. In that sense, DeFi is a microcosm of the crypto revolution, which is unleashing innovation and economic growth and, indeed, personal liberty. I think of my home State of Texas when it comes to cryptocurrencies. Texas is becoming an oasis for Bitcoin and for cryptocurrency worldwide. In Texas, we have abundant, low-cost energy, and as the energy capital of the world, Texas has both the expertise and the ethos of Texas. The Lone Star State was founded by a bunch of wildcatters who were guys with fourth grade educations who began drilling holes in the ground. One after the other, they became the richest men on Earth. That is Texas, the spirit of Texas, and that is the spirit of crypto as well. So what is the rule that Congress is in the process of repealing? At its core, DeFi was designed to allow individuals to freely buy, sell, and exchange digital assets without reliance on third-party intermediaries. It is ironic, therefore, that in the final hours of the Biden administration, the IRS finalized a new rule attacking America's cryptocurrency industry and more specifically DeFi.…”