Senator Pat Toomey on the Bad State of Crypto Regulation
Odd Lots
Bloomberg
4.4 • 1.6K Ratings
🗓️ 15 September 2022
⏱️ 41 minutes
🧾️ Download transcript
Summary
Cryptocurrencies often don't fit neatly into traditional asset buckets. They're not exactly currencies. They're not exactly commodities. And while many share commonalities with stocks, there are differences there as well. As such, US regulators haven't come up with clear rules on their trading and issuance, leaving entrepreneurs and investors in limbo. On this episode, we're joined by Pennsylvania Senator Pat Toomey, who has been harshly critical of the SEC's approach, particularly under current Chairman Gary Gensler. The Senator also talks about his own legislative proposals to start providing more clarity.
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| 1:32.6 | There is a lot of ambiguity and confusion right now. I would say about the state of crypto regulation. |
| 1:38.8 | Just a little bit. Just a tiny bit. Like, I mean, and it's understandable why, |
| 1:44.2 | because it's, I guess, a new type of asset class. They're not all the same. |
| 1:50.3 | It doesn't seem to quite fit into commodity buckets. Most of them don't fit quite into, say, |
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