Bradley HamnerFounder, BlueprintOS · Founder - Above the Business & BlueprintOS

Small Business Payment Systems and Crypto with Jeff Maine

Name: Small Business Payment Systems and Crypto with Jeff Maine
Uploaded: 2024-04-02T16:00:36+00:00
Duration: 42 s
Channel: Bradley Hamner
Description: In this segment of the interview, the speaker argues that widespread adoption of cryptocurrency for business payments is unlikely in the near term until…

2 Apr 2024 · 1 min

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In this segment of the interview, the speaker argues that widespread adoption of cryptocurrency for business payments is unlikely in the near term until the U.S. federal government establishes clear tax and regulatory frameworks. He emphasizes that crypto’s appeal lies in its ability to avoid taxes and regulation, which makes the government wary and likely to intervene. Without a defined tax regime and legal certainty, businesses face significant risk, and the speaker predicts that the government will either impose strict rules or potentially shut down crypto payment use, keeping the technology from scaling quickly.

Chapters

I don't see crypto becoming a big, big thing anytime soon until the federal government kind of takes their finger on it and, and says, hey, here's how we're going to tax it and here's how we're going to go with it. Because as long as it's avoiding taxes and avoiding what people want it to avoid, the government's going to keep their finger on it and keep us from going anywhere too quickly with it. And so from payments to businesses that we're, we're still a little ways away from anything like that happening, um, because obviously the, the government's got to be able to get their piece, or, or it's— or they're going to shut it down. And so it's very risky on that side of it.