I often see headlines now that years ago would have really sent my mind on a wild adventure. This last week one such instance where the headline read, "Leaked Memo Suggests Democrats on US House Committee Were Told to Support Party Position on Crypto Regulation". The title while accurate doesn't really explain the whole story and what this leak meant. 

More often than not memos are written by the Committee Staff of each side of the aisle for the Members of Congress and more importantly their staffers who would brief them on this issue. These memos can touch on a wide variety of things but they all pretty much have the same basic structure. They will include important details about the witnesses, contain questions that the Members could ask, and more importantly, state the party's stance in this situation and why it is what it is. 

Memos are also always written for hearings that a party feels are of higher than normal importance. Since Members often stand on several Committees and subcommittees there is a common issue of Members having scheduling conflicts and having to run in and out of numerous hearings. These documents help the Member adjust and quickly come up to seed on the hearing they are getting ready to walk into. 

Based on the article and following the link to the published tweets with the memo leaked what you can see here the leak appears to have been sent via email to the reporter. This is really important as it dramatically limits the possible sources that this could have come from. If it had been a paper copy then it easily could have been something that had fallen out of a folder or was left behind however that is clearly not the case here. Assuming that no one was hacked or that the memo was gained in any other nefarious ways someone who had access to this sent it purposely to the reporter. 

While it is not ideal there is some strategy for this to occur. When you add in the sheer number of Democratic Members on these two Committees it gives off the impression that this leak was done as a form of protest/disagreement with the Democratic Party's stance. Within the House Financial Services and House Agriculture Committees, there are several out-spoken fans of crypto who could want to apply pressure on the party to change their stance. It is a strategy that I have seen done before and can be successful in getting things changed with the House Stablecoin Bill from last year being a prime example. At the time there were many more anti-crypto Democratic Members so when the drafts were leaked that showed legislation that was not the strictest we then were hit with a revision that was much more strict and required an enormous amount of Treasury and Federal Reserve oversight. 

Only time will tell if this leak has any sort of impact on the Democratic Party's general public stance toward crypto. They have benefitted from several crypto mega-donors and alienating people willing to give your party tens of millions of dollars is not the best strategy in the world. Because of how The Hill really operates I would not be surprised to see the party continue to change its stance. Between having more elected Members who are pro-crypto and people in the industry who back them it would not serve them to smash the industry which we are currently seeing done. 

Please know I am not a financial advisor and make sure you do your own research! If you enjoyed this article and would like to support me further below are a few referral links that if you used when signing up I would appreciate it! Also, follow me on Twitter @Cje95_

Openfabric AI

Openfabric AI is Layer 1 solution focused on building and connecting decentralized Artificial Intelligence applications. Currently gearing up to launch its Beta Testnet currently users can complete missions to earn gems which in the future will be exchanged for X amount of Openfabric AI's token! If you would like to start your journey in this space please use my referral link here and go earn your gems! 

Robinhood

Robinhood is offering an excellent signup deal if you use my link here where we will both be awarded free stock. All that you have to do is sign up and connect your bank account for the award! With commission-free crypto trading and the ability to set limit orders, it is a great hybrid offering in my opinion! Not to forget the addition of wallets and the ability to send and receive crypto!

BYDFi

If you do not have a BYDFi account you can find my referral link here!

Fold App

Offers daily wheel spins to win free sats daily! If you sign up for Fold with my link here you will get 20,000 sats for free!  

Unstoppable Domains

Sign up using my link here and get a free $10 credit towards your first $40+ purchase!