"We're going to have crypto voters... They're going to encourage those in public office to be pro crypto and punish those that are not." - Patrick McHenry

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Takeaways

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• McHenry emphasizes the need for clear definitions and regulations around digital assets to foster innovation without over-regulating the space.
• He criticizes the outdated accredited investor standards that limit investment opportunities for the general public, advocating for broader access to investment options to address wealth disparities.
• He suggests that DAOs and NFTs should be recognized and regulated differently from traditional securities or commodities.
• He predicts federal regulation for stablecoins by 2025, aiming to ensure safety and security for users converting fiat to digital assets.
• He foresees the emergence of "crypto voters" who will actively support pro-crypto policies and lawmakers, indicating the growing political and social influence of the cryptocurrency community.

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Bio

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Congressman Patrick McHenry is serving his ninth term as the representative for North Carolina's 10th Congressional District since starting in 2005. He has become a leader on crowdfunding, capital formation, and other forms of disruptive finance.  In the 116th Congress, Congressman McHenry was elected as the Republican Leader of the House Financial Services Committee. Additionally, Congressman McHenry authored the primary legislation to legalize equity-based crowdfunding in the United States. The crowdfunding language he first authored in 2011 was eventually included in the JOBS Act which President Obama signed into law in April 2012.

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FULL TRANSCRIPT

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