Who?Rep. Barry Loudermilk (R-GA) — House Financial Services Committee LISTEN: Laslo & LoudermilkAsk a Pol asks:How’d that crypto — de-banking, technically — hearing go?Key Loudermilk:“For while I was in there, it was very interesting. I mean, it’s just a different version of Chokepoint that we saw before, but this time it’s geared toward innovation,” Rep. Barry Loudermilk exclusively tells Ask a Pol. “My biggest issue is what should be a partnership type relationship between regulators and businesses has really turned into an adversarial relationship, and that’s the greater concern I think most everyone has.” Subscribe for FREEE so our latest exclusives hit your inbox first! VIP options available, because this is America dammit… Like many, Loudermilk’s ticked at the SEC “Regulators were not even staying within their lanes. So SEC — whom the Supreme Court has even said, you don’t have anything to do with crypto unless it’s an exchange — they’re regulating crypto,” Loudermilk says. “We got to give immediate relief, and then we may look at it to put some guardrails legislatively.” ICYMI — all systems go...in the House, at least… Caught our ear:“It’s not only hard to plan,” Loudermilk tells us, “but you don’t know at one point, whether you’re in compliance or not, whether you’re gonna be sued the next day or you’re going to end up in jail.” Below find a rough transcript of Ask a Pol’s exclusive interview with Rep. Barry Loudermilk (R-GA), slightly edited for clarity.TRANSCRIPT: Rep. Barry LoudermilkSCENE: Rep. Barry Loudermilk — who just left a House de-banking hearing — is on his way to vote on the floor of the House of Representatives when Ask a Pol’s Matt Laslo runs into him in the Capitol’s basement before proceeding to hitch a ride on the Members Only elevator with the congressman. What should we ask lawmakers next? Let us know!Matt Laslo: “Hey. How are you?”Barry Loudermilk: “Good. How you been?” ML: “Not bad. How’d that — how’d that crypto hearing go? Or, I guess de-banking, but…” BL: “Uhm, yeah. For while I was in there, it was very interesting. I mean, it’s just a different version of Chokepoint that we saw before, but this time it was, it’s geared toward innovation. My biggest issue is what should be a partnership type relationship between regulators and businesses has really turned into an adversarial relationship.” ML: “Yeah?”BL: “And that’s the greater concern I think most everyone has.” Loudermilk and Laslo enter an elevator packed with House members heading to vote. ML: “Do you think that changes overnight with the new administration? Or do you think legislation might be necessary?” We can’t do independent crypto journalism in Washington without you.Find us on Venmo, PayPal, Cash App — or just buy us a beer!BL: “Well, that is — it can change. We may need to look at it legislatively so with the next administration that comes in, you don’t swing the pendulum the other way, and that’s one of the things that really hurts a lot of businesses is these sudden changes.”The elevator opens and everyone starts flooding out. BL: “Sudden swings in the regulatory environment they can’t plan for.”ML: “Yeah?”BL: “Because, you know, every four years, you free up certain regulations, and what we saw with the Biden administration is, when they came back, they came back on steroids.”ML: “Yeah?” BL: “And it was — regulators were not even staying within their lanes. So SEC — whom the Supreme Court has even said, you don’t have anything to do with crypto unless it’s an exchange — they’re regulating crypto. And so that’s, we’ve got to — we got to give immediate relief, and then we may look at it to put some guardrails legislatively.” ML: “Because if you’re a crypto firm now — like you guys heard in testimony — you’re suffering from whiplash. It’s just night and day.” BL: “That’s right. Yeah. And it’s difficult. It’s not only hard to plan, but you don’t know at one point, whether you’re in compliance or not, whether you’re gonna be sued the next day or you’re going to end up in jail.” ML: “Yeah?” Loudermilk’s now at one of the entrances to the House floor… BL: “You know., so...”ML: “Yup. Appreciate ya.” The congressman’s heading in to vote. BL: “Alright.” Nicolae Viorel Butler contributed to this report.Content posted at AskaPolcrypto.com is copyrighted. Use our original content to move the story forward. And, please, link to us. Get full access to Ask a Pol crypto at www.askapolcrypto.com/subscribe
