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Cryptocurrency has gone mainstream. With the market now valued at $1.8 trillion, Washington’s oversight of the fast-growing industry remains in its infancy. Earlier in March, President Joe Biden signed an executive order calling on the government to examine the risks and benefits of cryptocurrencies. Some members of Congress want to push for tighter regulation, while others view the emergence of blockchain-based networks and decentralized trading platforms as a way to unyoke the financial system from moribund institutions. Meanwhile, the Treasury Department is expected to introduce a proposal that would tax crypto firms to help pay for the $550 billion infrastructure package. Also, the Securities and Exchange Commission and other federal regulatory agencies are ramping up enforcement to lay ground rules for markets that some have called “the Wild West.”
Patchwork federal oversight of these markets is further complicated by state-level efforts that have sought to transform states like Wyoming or Florida into crypto hubs. Supporters of cryptocurrencies say they are the future of finance and allow their users more autonomy, while critics say the industry doesn’t do enough to protect users and mitigate cyberattacks and ransomware risks.
Join POLITICO for a deep-dive discussion on what’s next for crypto, regulation and the future of finance.
We’ll ask questions such as:
● What does President Biden’s executive order on crypto mean for the crypto industry and the financial sector?
● How should Congress and federal agencies shape future regulation of digital asset markets? Does the U.S. need a new crypto-centric regulatory agency?
● How are Wall Street and the broader financial sector incorporating crypto? Does last year’s decision to approve a Bitcoin Futures ETF portend more products for retail investors?
● What are the trends at the state level around crypto regulations?
● What do emerging regulations mean for crypto investors?
Cryptocurrency has gone mainstream. With the market now valued at $1.8 trillion, Washington’s oversight of the fast-growing industry remains in its infancy. Earlier in March, President Joe Biden signed an executive order calling on the government to examine the risks and benefits of cryptocurrencies. Some members of Congress want to push for tighter regulation, while others view the emergence of blockchain-based networks and decentralized trading platforms as a way to unyoke the financial system from moribund institutions. Meanwhile, the Treasury Department is expected to introduce a proposal that would tax crypto firms to help pay for the $550 billion infrastructure package. Also, the Securities and Exchange Commission and other federal regulatory agencies are ramping up enforcement to lay ground rules for markets that some have called “the Wild West.”
Patchwork federal oversight of these markets is further complicated by state-level efforts that have sought to transform states like Wyoming or Florida into crypto hubs. Supporters of cryptocurrencies say they are the future of finance and allow their users more autonomy, while critics say the industry doesn’t do enough to protect users and mitigate cyberattacks and ransomware risks.
Join POLITICO for a deep-dive discussion on what’s next for crypto, regulation and the future of finance.
We’ll ask questions such as:
● What does President Biden’s executive order on crypto mean for the crypto industry and the financial sector?
● How should Congress and federal agencies shape future regulation of digital asset markets? Does the U.S. need a new crypto-centric regulatory agency?
● How are Wall Street and the broader financial sector incorporating crypto? Does last year’s decision to approve a Bitcoin Futures ETF portend more products for retail investors?
● What are the trends at the state level around crypto regulations?
● What do emerging regulations mean for crypto investors?
Continue the conversation using #PoliticoTech
