Evolving Money: The Regulation Revolution (Sponsored Content)

The Pay Check

Bloomberg

Society & Culture, Business, Investing

4.4 • 630 Ratings

🗓️ 23 February 2025

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

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Summary

Just as it took the British government a century to catch up to Jonathan Swift’s innovative person-to-person loan program, the U.S. government has been slow to react to crypto, creating bureaucratic and legal hurdles to growth in the industry. But with a new administration and a new Congress, the industry now feels there’s reason to be optimistic that regulatory clarity, and a new chapter in the story of crypto in America, is beginning.

This episode is sponsored by Coinbase.

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Transcript

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0:00.0	Because you're a subscriber to this Bloomberg podcast, we thought you'd be interested in a sponsored podcast called Evolving Money.
0:07.7	Produced by Coinbase and Bloomberg Media Studios, it explores how money has changed over the centuries,
0:13.8	and whether cryptocurrency is just the next logical evolution of how we pay for things and store long-term value.
0:22.2	Here is a recent episode.
0:30.5	It's been nearly 15 years since a computer programmer named Laszlo Hunyes famously spent 10,000 Bitcoin for two Papa John's pizzas, the first ever purchase using Bitcoin. At the time, those 10,000 coins were worth only
0:41.0	$41. Since that landmark moment, the digital currency has traveled an uncertain road,
0:47.0	which isn't unexpected. When new financial practices gain traction, regulation is usually
0:52.2	slow to catch up with the new reality. As a result, throughout
0:55.3	its short history, the crypto market has been plagued by regulatory uncertainty. But last
1:00.8	year, things started to shift. One of the first big breakthroughs came when federal regulators
1:06.4	approved an ETF that tracks Bitcoin. Then came Election Day, which was a game changer. A record
1:13.2	number of pro-crypto candidates on both sides of the aisle, one at the state and federal levels.
1:19.5	With the most pro-Crypto Congress ever on its way to Washington, on December 17th, Bitcoin
1:24.4	closed above the $100,000 mark for the first time ever.
1:30.5	At that moment, the amount of Bitcoin that Laslo Hanyaz used to buy his two pizzas back in 2010
1:35.9	was worth $1 billion.
1:38.6	That's a lot of pizza, no matter how you slice it.
1:42.1	It seems clear that crypto is entering a new era, but what will that new era actually look like?
1:50.3	Welcome back to Evolving Money from Coinbase and Bloomberg Media Studios.
1:54.4	I'm your host, Maggie Lake.
1:56.0	On this podcast, we take a different look at cryptocurrency.
1:59.3	It's been cast as a radical departure for the monetary system.
	...

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