WEBVTT

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Hey everybody, Welcome to The Thinking
Crypto podcast, your home for cryptocurrency news

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00:00:12.880 --> 00:00:16.199
and the interviews. If you are
new here, please hit that subscribe button

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00:00:16.239 --> 00:00:19.399
as well as the thumbs up button
and leave a comment below. If you're

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listening on a podcast platform such as
Spotify or Apple, please leave a five

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star rating and review. Well,
folks, Happy Bitcoin having day, The

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00:00:27.440 --> 00:00:31.359
Bitcoin having has been completed. Bullish
times are ahead. We're going to break

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00:00:31.399 --> 00:00:34.719
down a lot and go into different
news items, but first I want to

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let you know that my book Rethinking
Crypto is officially live on Amazon. Please

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00:00:39.920 --> 00:00:44.200
grab a copy and support the podcast, folks. This book tells the story.

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00:00:44.240 --> 00:00:48.880
It documents the story of what crypto
has been through with the regulatory battles

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00:00:48.880 --> 00:00:53.119
with the SEC. It talks about
Ripple Grayscale, the Bitcoin ETF race,

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with black Rock tokenization, what does
the future of crypto look like, Why

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FTX and Sambang mcfreed were not the
ethos of crypto, And it provides some

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investing tips as it relates to crypto. What are the dos and don'ts.

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So this would make a really great
gift for someone who doesn't understand crypto and

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is trying to learn it and they
can get a holistic view of the market,

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folks. So that's why I wrote
the book. It took me a

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while to write. It was certainly
a challenging process, but certainly a rewarding

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one now that the book is live, so please support. Also, I

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will be hosting a book signing event
in New York City right across the street

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from the Wall Street Bull folks.
So it's going to be a great venue

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at Station three, which is a
Web three hub and right in front of

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that Wall Street Bowl folks. So
if you are in the Tri state area

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and you can attend, it's on
April thirtieth, please come by. It's

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free, grab a drink and so
forth, and let's talk crypto. Get

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a signed copy of the book and
link will be in the description for you

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guys to sign up on event bright
But you know, grab a copy of

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that book, guys, and I
really appreciate your support. All right,

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let's jump into the news. Bitcoin
having has officially been completed, and this

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is the fourth having, cutting the
mining rewards from six point twenty five to

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three point one two five, folks, historic every four years. The having

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continues, and we know the great
thing about this is that it's within the

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bitcoin algorithm, and it happens approximately
every four years, and it's the deflationary

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aspect of bitcoin, which makes it
vastly different from other currencies and store of

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values out there. It becomes harder
to mine bitcoin, and bitcoin that is

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lost forever is gone forever, right, So that's the supply and demand economics

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that plays out that drives the value
of bitcoin, in addition to utility and

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adoption. So pretty incredible. And
of course the price of bitcoin right now

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is at sixty three thousand, six
hundred and three dollars, so very close

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to sixty four thousand. And I've
been here from multiple bitcoin havings and bull

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market and bear markets cycles, and
it's incredible to see what price we're at

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right now. And even Michael Sailor
tweeted out about this. He said bitcoin

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was eight thousand, six hundred and
eighteen dollars on the day of the last

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bitcoin having and today we are at
sixty three thousand dollars. So imagine what

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the next leg of the bull run
the bull market's going to look like,

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folks. So that's why I think
we will crack one hundred thousand dollars definitely

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this cycle, and we could possibly
top out at one hundred and thirty to

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one hundred and forty thousand. Some
people are calling for higher prices, but

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there are diminishing returns every cycle,
so I want to make sure I'm transparent

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with that. But you are getting
a return obviously, And as Paul Tudor

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Jones said, Bitcoin and crypto is
the fastest horse in the race now.

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Right now, we are in a
bit of a pullback, but that's the

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micro, that's the short term.
Long term, folks, I am immensely

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bullish on Bitcoin and this entire market, all coins and much more. We'll

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just have to go through the normal
market cycles of pulling back and building support

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levels. And we see the dollar
currency index continues to look strong. So

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patients is the key here. We
got to go through these cycles, as

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annoying, as painful as they are, sometimes we have to go through them.

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So you know, Bitcoin is the
rising tide that lifts all boths.

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So as Bitcoin continues it's moved up, the liquidity will flow to these all

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coins and they will start moving as
well. Now here's a great chart analysis

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put together by analyst Kevin Spenson,
and he has a YouTube channel, make

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sure you follow him. He's been
documenting this parabolic curve and support trend line

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here, and it's a beautiful thing
on the chart. It's certainly aligned.

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Now. One thing I've learned is
that there's no analyst that is correct one

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hundred percent of the time. That's
why I follow multiple analysts, and I

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look at the chart, and I
do my own research behind their predictions and

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their analysis that they put out,
and and I think this is absolutely right

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here, that this parabolic curve shows
us that we could see a continuation in

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the near future, possibly in May, towards the end of May, a

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Bitcoin continuing this rally upwards. He
said, Bitcoin the next parabolic advance could

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start this week. Bullish continuation on
the horizon, he asked. And it

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may not happen this week once again, but when you look at his chart

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analysis, it certainly lines up with
the trend line here. So let's hope

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he's right here. Wrecked Capital tuted
out an updated chart, just beautiful showing

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where we are at with the different
havings. And we are still early in

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a sense of we're not very close
to the euphoric blowoff top. That's why

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some folks are calling for two hundred
thousand dollars bitcoin prices and much more.

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So we still got more to go, folks, and what we're seeing.

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You know, I've been talking about
the macro and what the FED is doing,

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and I've been sharing the theory that
I think the blow off top could

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happen here because markets are front running
the rate cuts which will come. I

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don't think they're going to come in
the middle of the year or even before

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the election. I think after the
election. That's just my opinion. I

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could be wrong, but I'm sharing
my thesis with you guys from doing my

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own research because I don't think the
markets or even the president, this current

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sitting president doesn't want to have the
economy look bad, doesn't want inflation to

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be high, and they have to
keep rates high for longer to fight off

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that inflation. So I think markets
will keep rallying. And what we see

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in historically is when they start to
cut rates, that means something's breaking and

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then usually there is a massive correction
at those periods where there's cuts. So

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using that thesis and historical data,
I think we keep going up the stock

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market, bitcoin, crypto and everything, and we're kind of in a macro

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everything bubble if you look at it
that way, and it's all correlated to

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global liquidity, as macro investor Ral
Palell would say. So I'm using multiple

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data sources, multiple thoughts and ideas
and thesis from different people. So I'm

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trying to remain holistic and look at
this thing from a three sixty view,

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not just from with blinders on tunnel
vision and only one view, because I

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think it's all correlated to global liquidity
and what the FED and the macro does.

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Because you just look at the charts, Bitcoin is aligned to the NASDAC

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and how the NASDAK moves. It's
pretty fascinating, folks. Before we go

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I've been a VET token holder for
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learn more about v chain, visit
vchain dot org. Link will be in

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the description. All right, let's
jump into some other news items here.

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Attorney John Deeton has filed for permission
to appear as a MEC council on behalf

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of four thousand, seven hundred and
one coinbased customers in the SEC versus Coinbase

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case. John is doing God's work
here, folks. Remember he supported seventy

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five thousand plus x RPE holders in
the ripple or the SEC versus Ripple case,

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and we saw how impactful that was
for that case because the judge was

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forced to look, at Hey,
what the SEC is doing here is actually

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hurting investors. They're not actually trying
to solve anything here or try to protect

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investories. It's kind of ridiculous because
there was no fraud. Same thing here

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at coinbase, no fraud. But
this is the work of scumbag regulator Gary

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Ginser. So thank you, John, if you're listening or watching, thank

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you for doing this. John,
is you know, fighting on behalf of

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the common man, because look,
yes, Coinbase as a company wants to

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win here, but you as customers
of whether you're a token holder or you're

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a user of the platform with different
tokens, you're the one that's getting hurt

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by these SEC lawsuits because once again, no fraud has been committed. There's

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no Ponzi scheme or crazy stuff happening
here. They're just trying to stop good

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actors because they are disrupting the banking
incumbents, and the banking incumbents are pulling

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the strings with Elizabeth warning Gary Ginser
here. So that's what's going on.

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So John entering in as a MESI
is very great to see and I think

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it will have an impact as well. And I think, you know,

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with the Ripple case, really set
kind of the game plan out here to

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blueprint for how we got to fight
back the SEC and scumback regulator Gary Genser,

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and we have to beat them in
court because Congress has not acted yet.

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So this is really great Metal law
Man James Murphy says, here we

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go John Deeton stepping up again to
speak up for victims of the SEC's war

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on crypto. Will any of the
people behind the tokens at issue in the

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coinbase case also intervened? The tokens
are ata soul matic file coin sand He

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lists all of them right that we're
in that lawsuit. So we'll see maybe

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the token projects you know, actually
step up. I'm hoping Charles Hoskinson does

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because he's been very vocal and him
and the folks at Ada or Cardano step

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up here. That would be really
impactful. Because united we stand, Divided,

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we fall, and if we are
able to get more participants coming in

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as a MEC and participating in different
ways, it will carry a lot of

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weight in the case. James also
highlighted that there's an important deadline in the

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SEC versus Coinbase case. He says, anyone interested in filing an amikas briefed

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to support of coinbases motion for interlocatory
Appeal must do so by April twenty six,

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twenty twenty four. So important note
there. All right, folks,

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we got the IRS getting their crypto
reporting requirements together. Here here's the headline.

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IRS releases draft of twenty twenty five
digital asset reporting form for US taxpayers.

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So folks, they know we are
in a bull market, they know

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gains will be made. And I've
often stated that, you know, capital

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gains taxes are highway robbery by the
government. You take your already tax money,

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invest it, you make a return, and you have to pay the

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government a whole bunch of money.
It's ridiculous. Now, I'm not against

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taxes altogether. I believe we need
to have some level of tax to pay

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for our row codes and fire department, police and all that jazz, military

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and all that right, But we
see that the governments have gone beyond normal

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levels of taxation because they can't control
their spending, and that's why the taxes

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have become ridiculous. So I'm hoping
the capital gains taxes can be reduced at

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least so the United States IRS,
the country's Tax Service, has released a

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draft of its new form ten ninety
nine DA Digital Assets Proceeds from Broker Transactions

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for reporting income from digital asset transactions. The form is expected to come into

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use in twenty twenty five. For
reporting in twenty twenty six, a broker

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will prepare form ten ninety nine d
DA for every customer who sells or exchanges

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digital assets. Brokers include KIOSK operators, digital asset payment processors, hosted wallet

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providers, unhosted wallets providers, and
others. Part of the copies of the

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ten ninety nine DA will be sent
to customers and the IRS, which will

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use them for verification purposes. The
form asked for token codes, wallet addresses,

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and blockchain transaction locations. Under the
rule proposed in August twenty twenty three,

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cryptocurrencies, non fungible tokens, and
stable coins are reportable. The rule

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stated, with third party information reporting
that specifically identifies digital asset transactions, the

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IRS could more easily identify taxpayers with
digital asset transactions that are otherwise difficult to

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discover. Now, many in the
crypto industry are not happy with this and

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the devils and the details here,
so the crypto community weighed in on the

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proposed reporting requirements after they were announced. The Blockchain Association said the rule contains

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fundamental misunderstandings about the nature of digital
assets and decentralized technology. Coinbased Chief legal

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officer Paul Grewall said the proposed rules
would set a dangerous president for surveillance of

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every day financial activities of consumers by
requiring nearly every digital asset transaction, even

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the purchase of a cup of coffee, to be reported. So this thing

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has to be pushed back obviously,
right, it's kind of crazy. It

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goes back to that Infrastructure Bill situation
where you know, they have these unreasonable

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requirements for things that can even report, right if you're a note or or

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doing different things. So we got
to push back, you know, at

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least though I think the IRS is
not as crazy as like Gary Genser and

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the sec are, so they're willing
to work the Treasury and so for they're

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willing to work with folks. So
the industry is going to have to push

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back here and if it gets you
know, crazy where we then have to

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call up our representatives and go through
the whole campaign like we did with the

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Infrastructure Bill, we'll have to do
that. So we'll watch as closely.

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But this is something the new and
it clearly shows many of these government folks

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are not fully educated as to how
this technology works because they propose things that

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don't make sense for it. So
stay tuned on this now. Yesterday we

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talked about Binance moving its saf FU
fund to USDC near a billion dollars,

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and I said, look, this
is another clear indication that the digital dollar

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00:15:24.799 --> 00:15:30.159
will could possibly probably be the USDC
stable coin. We'll have to wait and

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00:15:30.159 --> 00:15:35.559
see. But Binance also received a
license in Dubai. So here we got

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00:15:35.600 --> 00:15:41.320
news that Binance has secured a virtual
Asset Securities provider license from Dubai's Virtual Assets

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00:15:41.360 --> 00:15:46.279
Regulatory Authority. So they continue to
expand, and I think they're in the

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green here after the whole penalty and
paying their fine and cz having to step

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down. I'm not going to rehash
that whole scenario. You guys know the

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story already. It was pretty high
profile case. But you know this is

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what I was saying. They're not
shutting down, they're not banning these crypto

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companies. Just get in line.
Now, one could say in the United

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States, it's a different story.
And I believe so right they're trying to

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kill these crypto startups. Not kill
crypto, but kill the startups because you

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know, as Coinbase and all these
guys are getting sued. On the other

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hand, Black Rock and Fidelity in
Wall Street have issued big quinnytifs. They're

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starting to tokenize. Clearly they're using
crypto and blockchain tech, so it's not

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to kill it. It's just they
want the banking incumbents and the tradify incumbents

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who have controlled the markets for years, who have the politicians in their pockets

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who make campaign donations, to control
it, right. That's the game.

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We've been talking about it forever now, so good to see finance is expanding

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here and Dubai has become a very
attractive region or country for crypto because they

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have clarity. Now we have news
there to Tether bring USDT and gold stable

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coins to the ton blockchain, to
n blockchain, so this is fascinating.

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Teather is expanding its US dollar back
stable coin USDT and its goalback stable coin

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xau T to the open network,
which is Ton. USDT will go live

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on Ton on April twentieth, and
xaut will follow in the coming months.

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Teather CEO Paolo or do Eno,
told the block Now. I recently interviewed

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Paolo on the podcast. If you
haven't seen that, be sure to check

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it out. We talk about all
these things and their expansions and plans and

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much more. Now, folks,
before I wrap it up here, quick

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word about the DC Blockchain Summit.
I will be at this summit on May

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fifteenth and May sixteenth. Fifteenth is
the Summit Day with great speakers, many

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from DC. Patrick McHenry, Christin
Gillibrands, Senator Lumis has their purse,

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Caroline fam and many industry leaders and
guys. You don't want to miss this,

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and I'll be there so we can
catch up. And also day two,

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the sixteenth, will be Blockchain Education
Day where we will be going on

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Capitol Hill, so that will be
really great. I'm looking forward to that

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and if you can make it,
be sure to check out the link in

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the description. You can get a
discount on the tickets using the code thinking

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Crypto. It would be great to
be there. It's being put together by

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the Chamber of Digital Commerce and it'd
be fascinating, especially the Blockchain Education Day

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to go on DC and see how
the advocacy groups like the Chamber of Digital

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Commerce, you know what they're doing
and how they are speaking to these folks.

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So I hope to see those of
you who can make it there,

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and guys, once again, check
out my book if you haven't as yet

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00:18:51.240 --> 00:18:55.240
link in the description on Amazon appreciate
your support. Thank you for watching and

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listening, and I'll talk to you
all later at pak take dost past

