Summary of Update from Washington

00:00:00 - 00:20:00

This video is about the various topics related to cryptocurrency regulation, including the current debate over whether or not to involve the EPA and Department of Energy in the mining conversation. It also discusses the potential implications of a digital currency called "rimimbi" which is backed by social credit.

• 00:00:00 Charles Hoskinson updates viewers on his recent trip to Washington, D.C., where he spoke at a fintech event and met with government officials and congressman. He also describes a proposed regulatory framework for cryptocurrencies.
• 00:05:00 The video discusses the progress made by regulators in the cryptocurrency space, noting that while it is difficult to get a large piece of legislation passed, there is a strong desire on the part of both the legislative and executive branches to meet and discuss potential regulations. It is good to see such progress being made, with several effective lobbying organizations working hard to ensure a positive outcome for the industry as a whole.
• 00:10:00 The video is about the current debate over whether or not to involve the EPA and Department of Energy in the mining conversation, and how this might tension and friction with other stakeholders. There is bipartisan agreement that consumer protection is needed, but there are some tensions and issues that need to be resolved first.
• 00:15:00 The video discusses various topics, including the current state of cryptocurrency regulation and compliance, the Circle Financial Technologies company's efforts to bring cryptocurrencies and blockchain technology into the mainstream, and the company's plans to create a regulatory regime that acknowledges the existence of cryptocurrencies and their benefits to society.
• 00:20:00 The video discusses the potential implications of a digital currency called "rimimbi" which is backed by social credit. If this currency is allowed to spread, the money system will exist or a very small group of people will have total and absolute control over billions of people's economic liberty. This is not a hypothetical, it is an active project with great technology behind it. Brilliant minds are behind it and already 40 million users exists in beta. The video discusses the fight to protect cryptocurrency with properties that have liberty instead of another cbdc, such as a digital dollar. The video also discusses the influence of the United States in spreading this currency around the world.