Amanda Fischer

As Congress debates crypto giveaways @repmaxinewaters.bsky.social points out that, “we are supporting the same billionaires that just got massive tax cuts and sponsored Trump’s Stalinist military parade.”

Exclusive:  DOGE now targeting SEC policy, eyes SPAC rules, sources say President Donald Trump's Department of Government Efficiency initiative has pushed the U.S. markets watchdog to loosen Wall Street rules around blank-check companies and confidential reporting by private investment funds, according to two people familiar with the matter.

Our @amandalfischer.bsky.social spoke with @reuters.com about how DOGE involvement in SEC rulemaking raises serious concerns about potential conflicts of interest and political influence overriding staff expertise. www.reuters.com/legal/govern...

Allowing Amazon & Walmart to issue stablecoins will be disastrous, says @amandalfischer.bsky.social‬. More market power. New forms of too-big-to-fail. Sellers & suppliers forced to use a private currency with fees. Plus, more of our capital channeled to speculation, rather than loans for real stuff.

How the stablecoin bill gives Treasury Secretary Bessent a new tool to fund the U.S. deficit The Senate's GENIUS Act could spur crypto companies to buy billions of dollars of U.S. Treasury bills.

Our Policy Director & COO @amandalfischer.bsky.social pointed out for @cnbc.com that the GENIUS Act ignores “the susceptibility of stablecoin companies to runs, bankruptcies, and taxpayer-funded bailouts.” www.cnbc.com/2025/06/21/h...

Judge Rejects Trump Administration’s Efforts to Abandon Redlining Settlement with Townstone Financial Inc. - NFHA FOR IMMEDIATE RELEASE: Judge Rejects Trump Administration’s Efforts to Abandon Redlining Settlement with Townstone Financial Inc. WASHINGTON _ A federal judge has denied an attempt by the new leadersh...

A federal judge rejects the Trump Administration’s efforts to abandon the #CFPB's redlining settlement with Townstone Financial Inc. This is a huge victory protecting against attempts to rollback critical civil rights and fair lending protections.
nationalfairhousing.org/judge-reject...

We are in the dumbest timeline

5. For brokers, no fiduciary, Reg BI, best execution, data privacy/breach, custody protections are vague.

6. We will see the return of unregulated crypto lending.

7. Sundry other problems I invite you to read about

democrats-financialservices.house.gov/uploadedfile...

4. Trading framework in the bill is bad. Instead of the competitive tensions we see today between stock exchanges and brokers, crypto exchanges will unilaterally set rules on fees, trading protocols, etc. Exchanges can keep VC affiliates and trade on their own exchange.

Owning cryptocurrency is like buying a Beanie Baby, Coinbase lawyer argues This isn't the first time crypto platform Coinbase compared plush, collectible teddy bears from the 90s to crypto, some worth over $40,000.

For example, Coinbase in litigation with the SEC argued that they traded Beanie babies not investment contracts. So why would anyone register under this bill?

www.usatoday.com/story/money/...

Between the “I’m not an investment contract” loophole and the collectible loophole and the airdrop loophole and the grand gathering loophole, it’s easy to get around the SEC entirely.

Good faith implementation of the bill is difficult when the bipartisan commissioner framework has been destroyed.

2. The bill is vague and leaves too much up to regulators.

3. No one will use the new SEC offering exemption in the bill. It’s a head fake.

I had a chance to testify before the House Financial Services Committee on the new crypto market structure legislation.

Spoiler alert: it’s bad. A few observations with my testimony linked below.

1. No one is talking about how we are about to have ONE CFTC commissioner & an all GOP SEC.

Sound familiar? Brooksley Born in the late 90s heroically tried to regulate financial derivatives using existing legal authority but got smashed by a powerful lobby who argued that the tech was novel & Congress needed to pass new law to let innovation flourish

Now Born is speaking out on crypto

this is not legal advice but I said this last week so

I spoke to the @Financialtimes.com about the obvious but unspoken truth on stablecoins: the product is clearly violative of Glass-Steagall, which predicted the exact problem of firms that are not banks doing bank stuff and made it illegal.

Things in the crypto industry are going great when Omarosa is on TV talking about corruption and how the Trump Administration is exposing consumers to fraud

I’m done arguing with you because your reading comprehension is low and it’s exhausting. Go re-read. I never said professors.

Also we famously lost net neutrality. But congrats on empowering your alt-right colleagues in the FartCoin sales business. Seems like it’s going great for democracy.

Yes, I’m aware of the argument that SBF was the least bad crypto money available and that progressives had to accept it to fight fire with fire. It is a joke argument.

You are tolerated in left spaces because you are wealthy but no one takes your FartCoin purveyor industry or money seriously.

Marvin at least two progressive finreg groups said your partner tried to strong arm them into taking Sam Bankman-Fried’s bribes.

In any event CZ’s chief compliance officer wrote “we are operating as a fking unlicensed securities exchange in the USA, bro” in a company chat so leave me alone.

Bingo

Shoutout to the city of DC for all the Pride flags on lamp polls around the White House

Because courts. Fining companies and barring them from operating is not supposed to be easy. But I get the frustration.

Keep in mind the SEC sued XRP in Dec 2020 and it settled like a month ago, long before litigation was over.

The SEC’s lawsuit was a separate civil suit than the DOJ’s money laundering suit. Binance was litigating the SEC case. They settled DOJ. The new SEC dropped all charges. The SEC case would’ve effectively stopped Binance from operating in the U.S. if it prevailed.

Special shout to Rep. Richie Torres, who scolded the SEC for not suing Binance fast enough when Binance competitors wrote talking points for him, but who has gone silent now that the case is dropped.

An absolute corrupt miscarriage from an agency that is disgracing its storied reputation.

Everyone involved - from the Commissioners to Binance to every lawmaker that scolded the SEC that we didn’t sue them fast enough - should hang their heads in shame.

‘Rich man’s game’: Michael on VP Vance touting crypto Vice President Vance addressed the Bitcoin 2025 conference in Las Vegas, promising to keep the crypto industry unregulated. The speech comes just one day after Trump Media announced it had raised $2.5...

On @weeknightmsnbc.bsky.social, @amandalfischer.bsky.social says despite the $200mm the crypto industry poured into the 2024 elections, their ads didn’t even mention crypto!

@mjsdc.bsky.social reminds us of SCOTUS’ role in co-signing dark money in campaigns www.msnbc.com/the-weeknigh...

I was invited on @weeknightmsnbc.bsky.social to talk about JD Vance’s speech at Bitcoin2025 and how the Trump Administration is systematically gutting rules that protect consumers and our economy from crypto risk

www.msnbc.com/the-weeknigh...

Cas watching people new to this

Over on the other site they are giving advice on how not to get hacked, drugged or kidnapped at the big annual crypto conference. Normal!

Also if the Fed data is to be trusted over Coinbase data (it is) it puts crypto ownership at about half of what Coinbase claims in marketing/lobbying materials