Weekly Roundup 03/31/23 (CFTC v Binance, McHenry’s stablecoin bill, Gruenberg’s questionable testimony) (EP.411)
On The Brink with Castle Island
Dapper Labs and Fetch.ai: A Blockchain Platform That Leverages AI and Blockchain
Federal regulators now message to banks. You can't have more than 15%. The numbers fluctuate a little bit, but basically more than 15% of your business can't be crypto related. At the same time, you need a dramatically stepped up compliance program. That's a large fixed cost. Because of those two factors combined, it basically makes it virtually impossible for banks to serve as crypto because they have a high fixed cost. It just looks extraordinarily illegal.
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