According to Arthur Hayes, cryptocurrencies and tokens should be classified as speech protected by free speech laws. Any oversight that prevents individuals and businesses from storing or transferring crypto assets violates free speech rights. Hayes believes that this should be included in future legislation related to the crypto industry.
He warned that crypto-friendly voters will no longer have influence over politicians after the November 2024 presidential election. If a regulatory framework for digital assets is not in place before the election, the president-elect and his administration will shift their focus to other pressing issues. Geopolitics could overshadow discussions about cryptocurrencies, and the president’s attention will be focused on international conflicts, especially those involving Iran and Russia.
“The capital needed to support legislation aimed at developing cryptocurrencies can be redirected to more pressing foreign policy issues. Therefore, regulatory clarity should be sought now, before the political landscape changes after the elections,” Hayes said.
Arthur Hayes recently suggested that US presidential candidate Donald Trump may be deceiving cryptocurrency holders by promising to support the development of the crypto industry in order to gain votes.
Source: Bits
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