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Real Vision: Finance & Investing

The Controversial STABLE Act & Its Implications for Crypto

Real Vision: Finance & Investing

Real Vision

Business News, News, Investing, Business

4.11.1K Ratings

🗓️ 24 December 2020

⏱️ 83 minutes

🧾️ Download transcript

Summary

Rohan Grey, president of Modern Money Network & doctoral fellow at Cornell Law, joins Santiago Velez, co-founder and R&D division lead for Block Digital, to discuss the controversial STABLE Act, the history of private and public monies, and the future of stable coins. Grey gives a detailed history lesson on money and its relationship to government. They talk through the key tenets of the STABLE Act and its implications for the crypto space over all and stable coins more specifically. Grey explains the differences between Central Bank Digital Currencies and E-Money and touches on the importance of privacy for financial transactions. Key Learnings: The government and public monies are strongly connected, and Grey believes that there are major systemic risks presented by assets aiming to disrupt the government's oversight of the issuance of its money with history providing strong evidence of these risks. For those investing in the crypto space, the passing of the STABLE Act may negatively impact certain types of stable coin projects as some may fall under the umbrella of this bill. Higher regulatory burdens may force some crypto projects to shutdown while those who are capable of meeting the higher bar may flourish with regulatory backing. Recorded on December 14, 2020. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

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subject to eligibility exclusions and terms. Welcome. Welcome to Real Vision Real Vision. My name is Santiago Belize. I'm the co-founder of Block Digital Corporation.

0:50.0

And I'm honored today to welcome our guest guest Mr. Rohan Gray, professor. So welcome.

0:56.7

Thanks for having me. So you know I first of all I would like to thank my thank you and just want to extend my appreciation for this and you know for coming on the show and talking particularly in light of a lot of the kind of negativity and antagonism behind the subject of today's interview.

1:17.3

So I appreciate that.

1:18.5

So thank you.

1:19.9

So today I'd like to talk about the Stable Act and we'll get into what that is and what that means for crypto.

1:28.0

This particular segment is under the Real Vision umbrella and the crypto channel in general.

1:33.9

So a lot of people watching are very interested in potentially

1:38.2

the ramifications that might have on their investment

1:42.4

in crypto or their participation going forward.

1:45.3

So I will get into that, but before that I'd like to talk a little bit about just the fundamental

1:52.1

principles of money and governance and perhaps how those two things interplay.

1:59.4

And then from there go on to describing specifically in the United States how that interplay has

2:06.8

arisen to lend itself to where we are now.

2:09.8

So my first question I guess would be what of your views around the nature properties of money and with that governance?

...

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