MONEY REIMAGINED: The Regulatory Web of Crypto

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CoinDesk

Tech News, Business News, Daily News, News

4.7 • 698 Ratings

🗓️ 26 August 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by Circle and NEAR. The massive web of regulations that entangle the legacy financial sector have been, in the recent past, a guidepost for governors to apply to the crypto industry. But the argument for many in the crypto community is that those same rules aren’t really applicable to crypto and decentralized finance (DeFi), especially without considerable changes. As the industry matures and seeks more clarity concerning governance and regulation, larger questions arise for the future of crypto commerce. How do we appropriately assess risk in new systems? Should regulators impose stricter constraints on crypto’s centralized finance sector? Who has regulatory authority over which assets and why? Today on “Money Reimagined,” host Sheila Warren examines alternative frameworks for regulation and world banking with Jai Massari, co-founder and chief legal officer of Lightspark; and Alexandra Barrage, partner at Davis Wright Tremaine, who also previously worked at the Federal Deposit Insurance Corp. - Money Reimagined listeners get a special discount on Converge22, Circle’s first annual conference on the blockchain-driven future of money. Coming this September, Converge22 is for change makers looking to build what’s next in Web3. Use the code “CoinDesk” at checkout https://hubs.li/Q01hpy4w0. - NEAR is a simple, revolutionary Web3 platform for decentralized apps, created by developers for developers. More than 700 projects are now building on NEAR’s fast, secure and infinitely scalable protocol, from DeFi apps to play-and-earn games, NFT marketplaces and more. Start your developer journey now by visiting NEAR at near.org. - I.D.E.A.S. 2022 by CoinDesk is the place to see your idea for the next big thing through – meet with leading investors, vet service providers and meet fellow visionaries at the Investing in Digital Assets and Enterprises Summit. Learn more and apply to become a presenter today: coindesk.com/ideas - This episode was produced and edited by Michele Musso with announcements by Adam B. Levine and our executive producer is Jared Schwartz. The theme song is “Shepard.” See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	Coindesk is calling on visionaries in the digital economy to present at our newest event,
0:09.4	Ideas, Investing in Digital Assets and Enterprises Summit.
0:13.6	Ideas is the place for you to present your marketing opportunity in front of leading investors
0:18.3	poised to help you get your idea off the ground.
0:21.4	Apply today to become a presenter at Ideas 2020 by CoinDesk. Visit CoinDesd.com forward slash ideas for more
0:29.2	information. This episode is sponsored by Circle and Near.
0:36.2	Money is changing.
0:38.5	So where do we go from here?
0:40.9	Through high-profile interviews and thought-provoking analysis,
0:43.9	join Michael Casey and Sheila Warren for the Money Reimagined podcast,
0:48.1	as they explore the connection between finance, human culture,
0:50.9	and are increasingly digital lives.
0:57.1	And just a reminder, CoinDesk is a new source and does not provide investment advice. And now, you're Sheila Warren. Hello and welcome to Money Reimagined.
1:06.1	I'm Sheila Warren. Recent activity around the world these past few months has shown a spotlight on regulation of the
1:11.7	crypto industry. Countries including the G20 have issued and are issuing guidance on everything from
1:18.1	broad crypto frameworks to tax to stable coins. With the passage of the landmark Mika proposal in Europe,
1:24.5	multiple bills dropping in the U.S, and action elsewhere around the world,
1:28.3	regulation is more clear than it was a year ago, but that bar remains pretty low.
1:33.3	Many people in the industry are now accustomed to the idea that officially enforceable rules
1:38.3	that hold people and the services they provide to account might actually help crypto as it evolves.
1:44.3	This isn't part of natural response to the fear of widespread contagion from acts of a select
1:48.9	few across the wider crypto ecosystem.
	...

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