@cryptocracy 8 June 2022 more from that month

Will This Bi-Partisan Crypto Bill Pass Congress? A **bi-partisan bill** has been introduced in Congress that would draw a distinction between cryptocurrencies that are securities and those that are commodities. Ten ways this legislation could be **impactful**. *This would be landmark legislation if passed. It could also open up the floodgates of crypto investing across the land. Of course, that’s IF it passes. I’m not holding my breath. Are you?* https://www.nbcnewyork.com/news/tech/senators-unveil-bill-to-regulate-cryptocurrencies-heres-whats-in-it/3723595/ https://www.natlawreview.com/article/10-impactful-provisions-lummis-gillibrand-bill Bitcoin fell **below $30,000** again. Could Nancy Pelosi’s **investment in Apple** be a clue about bitcoin’s next uprising? BTC whales discuss when to **get in and get out**. https://www.coindesk.com/markets/2022/06/07/bitcoin-tumbles-back-below-30k-as-bullish-momentum-wanes/ https://bitcoinist.com/nancy-pelosi-hints-at-a-bitcoin-recovery/ https://cointelegraph.com/news/can-it-get-any-easier-bitcoin-whales-dictate-when-to-buy-and-sell-btc The Securities and Exchange Commission (SEC) has ordered a conference to **discuss the notes** of former SEC Director William Hinman. Attorney John Deaton, representing XRP holders in the case, says the SEC may want to **depose his 2,000 clients**. Ripple executives believe statements made by Hinman could **contradict the SEC’s current position** and undercut the agency’s case against the company. Meanwhile, Ripple’s former CTO Jed McCaleb has **dumped 70 million XRP tokens**, but why? *It appears the SEC case against Ripple could be coming to a close, but the Hinman letter could be the hinge that either swings the door open or slams it shut.* https://www.fxstreet.com/cryptocurrencies/news/sec-v-ripple-court-orders-a-conference-call-on-hinmans-2018-emails-and-notes-202206070827 https://financefeeds.com/ripple-lawsuit-conference-call-today-sec-may-want-to-depose-2000-xrp-holders-says-john-deaton/ https://www.foxbusiness.com/markets/crypto-trial-century-ripple-case-could-be-decided-over-just-few-words-from-former-sec-official https://www.thecoinrepublic.com/2022/06/07/why-co-founder-and-former-cto-of-ripple-jed-mccaleb-dumped-his-70-million-xrp-tokens/ Binance.us is launching a **crypto staking service** with up to 18 percent staking rewards. Meanwhile, Reuters has **accused Binance** of being a hub for hackers, fraudsters, and drug traffickers. Binance calls it a **disinformation campaign**. *Of course they do. Who do you trust more, the media or Binance?* https://www.coindesk.com/business/2022/06/07/binanceus-launches-crypto-staking-assault-on-rivals-coinbase-and-gemini/ https://www.reuters.com/legal/government/how-crypto-giant-binance-became-hub-hackers-fraudsters-drug-traffickers-2022-06-07/ https://cointelegraph.com/news/binance-fires-back-at-reuters-money-laundering-allegations Coinbase has launched a **jobs database** for people whose jobs it rescinded last week. *What would the unemployed do without such a tool?* https://decrypt.co/102262/coinbase-launches-database-for-people-whose-job-offers-it-rescinded While the rest of the market is down, metaverse tokens are up **400 percent**. Awareness of the metaverse has **doubled in six months**. But what I’d really like to know is when will we start having **meetings in the metaverse**? *Do you believe the metaverse will be a part of your daily life? Would you go bungee jumping in the metaverse? Wrestle a shark? Go shopping for shoes?* https://cointelegraph.com/news/metaverse-tokens-up-400-year-on-year-despite-altcoin-bloodbath https://cryptoslate.com/metaverse-awareness-has-more-than-doubled-in-6-months/ https://www.marketplace.org/shows/marketplace-tech/when-will-we-start-having-our-meetings-in-the-metaverse/

Netscape creator Marc Andreessen says the rise of Web3 is like the **rise of the early internet**. *I guess he would know.* https://cointelegraph.com/news/netscape-creator-says-web3-really-is-like-the-rise-of-the-early-internet The fundamental flaws in three **pioneering state laws** concerning DAOs. ***This is a MUST-READ.*** *Discusses Vermont’s blockchain-based LLC legislation and Wyoming’s and Tennessee’s DAO LLC legislation. Do these laws miss the mark on technology?* https://thedefiant.io/starting-a-dao-in-the-usa-steer-clear-of-dao-legislation/ Actor Rob McElhenney is **launching a Web3 writers room** and entertainment company to share royalties with co-creators who own NFTs. *This is a brilliant idea. Except that it’s on Ethereum. I sincerely hope the forthcoming Merge lowers gas fees.* https://decrypt.co/102270/always-sunny-rob-mcelhenney-adim-ethereum-nfts What the crypto space will look like **in 2030**. https://fortune.com/2022/06/07/web3-crypto-crash-tech-finance-price-future-outlook-coinchange-maxim-galash/ How NFTs are **revolutionizing creativity**. 5 things to think about **before you buy an NFT**. https://www.forbes.com/sites/forbestechcouncil/2022/06/07/not-just-monkey-business-how-nft-technology-is-revolutionizing-creativity/?sh=73860d893cf7 https://www.entrepreneur.com/article/427191 Checkout.com now **accepts USDC**. https://www.cnbc.com/2022/06/07/checkoutcom-jumps-into-crypto-with-stablecoin-payments-feature.html Does the rise of the Fed’s Number 2 have **implications for crypto**? *I don’t believe in accidents. Things happen for a reason. Lael Brainard has been a member of the Federal Reserve’s Board of Governors since 2014. Prior to that, she worked in the U.S. Treasury Department. She’s also been a part of the G-20 and G-7 as well as Financial Stability Board. In other words, she’s entrenched in the world’s financial system. Born in 1962, she’s young enough to have an appreciation for responsible innovation and could serve as a bridge for crypto and traditional finance. What that means, simply, is that Brainard could influence the Fed to embrace cryptocurrencies, nod at stablecoins, and adopt a CBDC. Maybe. Wink.* https://forkast.news/is-lael-brainard-good-for-crypto-industry/ Epic Games has launched the world’s first **Web3 Wild West shooter game**. *Yeehaw.* https://store.epicgames.com/en-US/p/grit-482454 The Bank of Jamaica is **launching a cryptocurrency**. https://www.bostonherald.com/2022/06/07/bank-of-jamaica-to-launch-nationwide-digital-currency/ A Read.Cash Sighting (It’s Not About UFOs) Meet the **top tippers on Read.Cash**. *Read.Cash is becoming one of my favorite cryptosocial media platforms. I routinely receive good tips. I’m not sure what period this covers, but I’m going to guess its annual. What I find interesting is that one user has tipped over $160,000. What kind of money is he making on the platform? Another interesting tidbit is that bitcoin pioneer* ***Roger Ver*** *is No. 3 on the list.* ***Follow me on Read.Cash****, but carry an umbrella.* https://read.cash/@Pantera/the-new-superheroes-of-readcash-0a9451c2 https://en.wikipedia.org/wiki/Roger_Ver https://read.cash/r/cryptocracy Snark and commentary in italics. Do I need to remind you? Upcoming Can’t-Be-Missed Events **Thursday, June 16** - Microclass: **Intro to Cryptosocial - Earn $$$ on Social Media**. I’ll be with host Ryan Gerardi and presenting the microclass. This introduction to cryptosocial media will give an overview of cryptosocial media platforms and protocols with a bird’s-eye view of how they can be used to build a side hustle. https://www.clubhouse.com/event/xkJBKB72 **Wednesday, June 29** - Interview with Scott Cunningham, host of **Crypto & Things**, on **The MTC Show**. The show is hosted by Gerardi, who has graciously given me a 15-minute segment to discuss cryptosocial media platforms with Cunningham. https://www.youtube.com/c/ScottCunninghamCryptoAndThings/videos https://autoconversion.net/blog/acwebinars/autoconversion-on-air/ **Wednesday, July 13** - Interview with Adam Waring, creator of **gfam**, on **The B2B Hour**. Another show hosted by Gerardi. Waring and I will be discussing business-to-business applications of cryptosocial media. https://gfam.live/ https://autoconversion.net/blog/author/yhurg/ Get the full benefit of this programming by signing up with **Blockchain Crypto Pros**. https://autoconversion.net/blog/acwebinars/blockchain-crypto-pros/ Cryptocracy is a decentralized newsletter published 4 times a week. I curate the latest news and crypto analysis from some of the brightest minds in crypto, and sometimes offer a little insightful and snarky commentary. Always fresh, always interesting, and always crypto. *First published at* *Cryptocracy**. Not to be construed as financial advice.* https://cryptocracy.substack.com/p/bi-partisan-crypto-bill-could-have?s=w Image credit: Cryptoslate