A First Step To Crypto Regulation, Or A Step Backwards?
Consider This from NPR
NPR
4.2 • 6.2K Ratings
🗓️ 8 June 2022
⏱️ 15 minutes
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Summary
A Senate bill proposes a new regulatory framework for the industry. Cosponsors Cynthia Lummis (R-Wyoming) and Kirsten Gillibrand (D-N.Y.) argue that their bill hits the "sweet spot" between allowing innovation and protecting consumers.
Software engineer Molly White, who runs the blog Web3 is going just great, says that the bill is too industry-friendly, and puts into legislation the "foggy regulatory space" that crypto companies have taken advantage of.
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Transcript
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| 0:00.0 | OK, so things change fast in the world of crypto. |
| 0:04.6 | Let's go back all of seven months ago to November 2021. |
| 0:08.4 | Bitcoin breaking out to an all-time high on Tuesday |
| 0:11.3 | as the red hot acid gains momentum |
| 0:13.6 | with more investors buying into the rally. |
| 0:16.0 | Bitcoin surged during the pandemic. |
| 0:18.6 | So did other cryptocurrencies, like Ethereum, |
| 0:21.5 | and in February, a small army of celebrities |
| 0:24.8 | packed super bowl ads promoting cryptocurrency exchanges |
| 0:28.3 | from Tom Brady. |
| 0:29.7 | He's the safest and easiest way to buy and sell crypto. |
| 0:31.7 | It's the best way to get in the game. |
| 0:33.2 | Two Matt Damon. |
| 0:34.5 | Fortune favors the brave. |
| 0:36.8 | But if you were brave enough to put some skin in the game |
| 0:40.4 | back in February after those super bowl ads, |
| 0:42.9 | well, at this point, you might be having some regrets. |
| 0:46.0 | Well, I don't need to tell anyone this, |
| 0:47.0 | but it's been a rough year for crypto. |
| 0:48.9 | And in our chart of the day, just |
| 0:49.9 | want to walk you through all of the craziness |
| 0:52.2 | that's been going on in the markets. |
... |
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