Today, I’m proud to announce California’s Senate Joint Resolution 16 Financial Education and Inclusion Act of 2022. This is going to be BitBoy Crypto’s first sponsored bill. As you guys know, we’re out here making changes. SJR16 calls upon Congress to exercise its authority and direct the SEC to remove the outdated and discriminatory means test for accredited investing and replace it with a free certification examination online. Doing this will implement education-based investor protections and for the first time opens a pathway into those investments historically reserved for only the wealthiest investors, kicking down the gates.
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This resolution came directly from my interaction with you, the BitSquad, which of course we know the largest and greatest crypto community in all the Interwebs. Every time we do a meetup, you guys tell me about your experiences along your journey to financial freedom. I take those things serious. I listen. You told me how you felt that there are two markets out there. There’s one for the rich to get richer and then the one for everybody else. This is an intolerable situation and one of the things that crypto was created to address in the first place. So, as you guys know, I put my time and my money and my resources where my mouth is. I wrote a bill and put together a team from the BitSquad to go get it done. All of us know that regulation is coming.
We also know that if we don’t do it for ourselves, it will be done to us. If you’re not at the table, you’re on the menu. We decided to get involved in this, but only in a manner that avoided mistakes of the past. Mistakes that have corrupted the existing financial system beyond and have made it worse. I’m taking a page out of the XRP playbook and looking at the things that bridge the legacy system, remove institutional barriers, and create smart pathways for individuals to attain their own financial freedom without relying on corporate or government gatekeepers. We’re doing this by following principles that have gotten this channel far. Some that have changed. No. 1, we always want to be community-driven. The BitSquad is always going to direct what we do on this channel. No. 2, as you guys know, we cut out all sponsorships on this channel.
We don’t do promotions. This way, our channel can stay 100% unbiased. And No. 3, we’re not going to get involved in things that only serve my self-interest. This last one is tricky because, of course, I’m in the crypto space and argument could be made that I profit from increased participation in crypto. And that is somewhat true. Crypto going up is good for me. But what I can say is that I will never stand behind a bill that directly improves my personal financial position other than by the general adoption of crypto. And that’s what this is about. I want to be public and transparent in every move that I make.
Now, to get involved in politics is very high stakes. For years, I’ve told you that I was listening at every meetup. I’ve told you crypto had to be led by the community and that we had to be involved in regulation or be victims of it. I promised you guys that I’m going to break down the barriers and come after the gatekeepers. This is the start of me keeping that promise. This is the beginning of a multi-year campaign. And as we take each new step, we will do it in conjunction with you, the BitSquad. I need you to be more than heard. I need you to be involved in driving not only the decisions, but the process itself. There will be ways for each of you to get involved and to use your voice and skills to shape crypto policy for the entire space.
This article is a transcription of a video made by BitBot Crypto
Original video: https://youtu.be/aqJYbH8hP4c