Says the dumbass on Solana. I am developing a fiercer and fiercer allergic reaction to the head-wedgery from the leading lights of crypto on digital currencies and regulation. it's been what, two months since everyone freaked balls about India banning crypto? And just YESTERDAY they came back with "pay your fucking taxes." The US has been crystal clear, all the way through, since 2012 on this: - The Internal Revenue Service reserves the right to tax all transactions with the US, don't care where it originates (they'll ditch the "I" in "IRS" before too long, mark my words) - The Comptroller of the Currency considers cryptocurrency to be an asset, not a currency, and therefore subject to taxes - The Commodity Futures Trading Commission considers cryptocurrency to be a commodity, not an equity, and therefore subject to commodities laws, not equities laws - The Comptroller of the Currency considers stablecoins - ANY stablecoin - traded on a public blockchain - PUBLIC blockchain - to be equivalent to SWIFT or any other payments network for settlement. The paranoids have been sandy-cracked about how the gummint is trying to kill the dream of crypto by making it easier for banks to do stablecoins or some shit and it's like "yeah? They're BANKS?" You can be a bank earning 6% if you've got $100k worth of ETH to put on the network, no FDIC oversight required so STFU. And that's the most stable, least stupid staking network to roll with, yet here's Jeremy Allaire somehow making his jackass bet on Solana a national security issue and the chin-stroking cryptobros lap it the fuck up. If you execute commerce in India, you will pay taxes in Rupees. If you execute commerce in China, you will pay taxes in Yuan. If you execute in the US, you will pay taxes in dollars. So far, every.single.opinion out of the USA has been "so long as it's not Libra you're good." The truly stupid thing is that principally? What China and India have done is build an insurmountable moat. Trade in China, you trade on a central bank digital currency entirely controlled by totalitarians. Trade in India, you will trade on a central bank digital currency entirely controlled by populists. The US, on the other hand, has eliminated all moats. Got a public blockchain? Got a stablecoin? It's all gravy, so long as they get paid. Circle could disappear TOMORROW and all the bloviating from Jeremy Allaire will not slow-clap him into the prominence he thinks he deserves.