The Bank Secrecy Act gives the treasury and FinCEN extremely broad authority to do whatever you think is right from a rulemaking standpoint. And in fact, the power they've been handed to just make rules undergirded by that law from Congress is probably beyond the pale of our constitutional system where we say only Congress makes laws. They can use that power to do almost anything because almost anything as far as surveillance of our financial system could be justified as stopping money laundering or stopping the flow of terrorist funds.
In this week’s episode, Anna & Josh Cincinnati chat with Peter Van Valkenburgh, Director of Research at Coin Center. Coin Center is a non-profit research and advocacy group focused on the public policy issues facing cryptocurrency and decentralized computing technologies. In this conversation, they cover the various branches in the US system, how these interact with the crypto/blockchain community, what the process is for making regulation and how coincenter gets involved.
Here are a few of the groups that they mention:
- FinCen: Financial Crimes Enforcement Network.
- SEC: U.S. Securities and Exchange Commission
- CFTC: Commodities futures trading commission
Here are some handy links:
Thanks for this week’s sponsor Interchain Foundation or ICF
ICF is focused on the research, development, and promotion of open, decentralized, network technologies like Cosmos
One of the most recent developments in the Cosmos ecosystem is the Stargate upgrade. Stargate is the largest Cosmos upgrade yet, enabling blockchains to connect with each other using the first standardized protocol for inter-blockchain communication (IBC). Here is our episode with Chris Goes about IBC.
If you want to apply to the Interchain Foundation Grants program, here is the link: apply.interchain.io
Deadline for this round is February 14th.
Thanks again ICF!
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