Brookings Institution | Jul 25, 2022
More than a decade into its existence, cryptocurrency has burst into the mainstream. Meanwhile, America’s financial system still has not figured out how to regulate it. Is crypto an asset, security, commodity, or currency? Is crypto an opportunity for financial inclusion or a scam full of consumer abuse? As crypto continues its ascent, the answers to these questions will be paramount for regulators to ensure fair access to the digital currency and adequate consumer protection.
See: U.S. Treasury Request for Comments: Crypto Competitiveness – Risks and Opportunities of Digital Assets
On Monday, July 25, Aaron Klein, senior fellow at the Brookings Center on Regulation and Markets sat down with Commodity Futures Trading Commission Chairman Rostin Behnam to discuss the future of crypto regulation. We then heard from Hilary Allen, professor of law at the American University Washington College of Law; Michael Piwowar, executive director of the Center for Financial Markets at the Milken Institute; and Sheila Warren, chief executive officer of the Crypto Council for Innovation for their perspective.
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