Are Crypto Safe Harbors an Idea Whose Time Has Come?

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 21 August 2022

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This episode is sponsored by Nexo.io, Chainalysis and FTX US. On this edition of “Long Reads Sunday,” NLW reads: “Let Ugly Ducklings Grow: Why Crypto Needs a Safe Harbor” by Michael Casey “Safe Harbor 2.0” by SEC Commissioner Hester Peirce - Nexo is a security-first platform where you can buy, exchange and borrow against your crypto. The company safeguards your crypto by relying on five key fundamentals including real-time auditing and insurance on custodial assets. Learn more at nexo.io. - Chainalysis is the blockchain data platform. We provide data, software, services and research to government agencies, exchanges, financial institutions and insurance and cybersecurity companies. Our data powers investigation, compliance and market intelligence software that has been used to solve some of the world’s most high-profile criminal cases. For more information, visit www.chainalysis.com. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - I.D.E.A.S. 2022 by CoinDesk facilitates capital flow and market growth by connecting the digital economy with traditional finance through the presenter’s mainstage, capital allocation meeting rooms and sponsor expo floor. Use code BREAKDOWN20 for 20% off the General Pass. Learn more and register at coindesk.com/ideas. - “The Breakdown” is written, produced by and features Nathaniel Whittemore, aka NLW, with today’s editing by Eleanor Pahl and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsors today is “The Now” by Aaron Sprinkle and “The Life We Had” by Moments. Image credit: Doug van Kampen, van Kampen Photography/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.2	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:14.8	The breakdown is sponsored by nexo.io, chain aliasis, and FtX, and produced and distributed by CoinDesk.
0:22.8	What's going on, guys? It is Sunday, August 21st, and that means it's time for Long Read Sunday.
0:29.0	Before we get into that, however, if you are enjoying the breakdown, please go subscribe to it,
0:33.1	give it a rating, give it a review, or if you want to dig deeper into the conversation,
0:37.1	come join us on
0:37.9	the Breakers Discord. You can find a link in the show notes or go to bit.ly slash breakdown pod.
0:43.4	Also, I want to tell you about CoinDesk's new event, the investing in digital assets and enterprises
0:48.8	summit or ideas. The event facilitates capital flow and market growth by connecting the digital economy with traditional finance.
0:56.9	Join CoinDesk October 18th and 19th in New York City for a 360-degree investment experience
1:02.7	where you can source, invest, and secure the next big deal in digital assets.
1:07.3	Use code breakdown 20 for 20% off a general pass. You can register today at coindesk.com
1:12.7	slash ideas. All right, so for this Longread Sunday, we are discussing the line, the space
1:19.3	really, between innovation and regulation. This is one of the constant tensions that shapes
1:26.1	what we do here. For a country like the United States,
1:29.3	there is, on the one hand, a goal to continue to be an economic leader, and a sense that to do
1:34.0	so requires allowing new types of enterprise and especially new types of technology,
1:39.9	the chance to grow into their final form without being strangled in the crib. At the same time, there is a desire among regulators in particular to see those new innovations
1:48.3	fit within protective regulatory frameworks.
1:51.6	It's also worth noting that there are at least a couple different categories of thinking
1:55.5	as to why an industry might need regulation, specifically in the case of novel financial
	...

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