The Politicizing of Crypto and Gensler’s Response to a Question of Law.

This episode is sponsored by EY and Brave. 

On this episode of “Money Reimagined,” Michael Casey and Sheila Warren dive right into Gary Gensler's response to a question of law by Rep. Patrick McHenry during the House oversight hearing of Gensler’s Securities and Exchange Commission earlier this week. Sheila and Michael discuss partisanship, climate disclosures, and the role of the SEC.

A reshaping is taking place of what powers administrative agencies are allowed and the defined responsibilities of Congress and the courts.

In this episode  Michael and Sheila discuss:

Gensler's response to a question of law by Rep. Patrick McHenryPartisanship, climate disclosures and the role of the SECThe role of government

 How crypto is getting politicized

The role of regulators in the futureRegulation by enforcement after the fact The second time in the crypto industry that unscrupulous actors are engaging in activities that hurt people

Pro-regulatory stance on regulation

The progressive pro-regulator stance on this issueThe shadow of the threatResponsible actors: good and badNo accommodation for innovationThe sword of Damocles hanging over U.S. partnersThe CFTC  action against Binance

Regulation and innovation

Recognizing the pain that people felt in CaliforniaThe need for regulation and innovationLet open-source, permissionless innovation happen in a constructive way.Crypto is a proxy for other issues.

Inter-agency territoriality

Inter-agency territorial conflict between SEC and CFTCImportance of context in these conversationsEarly warning sign with ICOs in 2017Regulation needs to differentiate between good and bad actors

Regulation of digital assets and licensing

Bermuda's strict licensing requirementsThe massive erosion of trust after FTXJoint responsibility of regulators and the industry Crypto is not as partisan as it seems.

The problem with simplistic black-and-white solutions.

Nuance always gets lost, and that's part of the problem.

 See Also:

YouTube -  Hearing Entitled: Oversight of the Securities and Exchange Commission

From our sponsors:

EY blockchain solutions can transform the business lifecycle for digital ecosystems, by promoting trust, transparency, privacy and efficiency.  EY: Helping you build a better working world. Find out more at blockchain.ey.com

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Money Reimagined has been produced and edited by senior producer Michele Musso and our executive producer is Jared Schwartz. Our theme song is “AITA” by Neon Beach.

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