Unchained

Rep. Ritchie Torres on Why Congress Should Make Clear Crypto Laws - Ep. 524

Jul 28, 2023

Ritchie Torres, U.S. Representative for New York's 15th district, is a rising pro-crypto advocate. He discusses the SEC's overreach and the need for clear, coherent crypto regulations amid a divided Congress. Torres highlights how stablecoins pose less risk than traditional banking practices. He addresses the inequities in investor protection, particularly after the FTX collapse, and critiques the 'regulation by enforcement' approach. Through a generational lens, he calls for responsible innovation in the crypto landscape.

39:58

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Episode guests

Rep. Ritchie Torres

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Episode notes

Intro

2min

Navigating Cryptocurrency Legislation

9min

The Crucial Need for Crypto Regulation and Its Political Implications

5min

Navigating Crypto Regulation: Political Tensions and SEC Challenges

10min

Navigating Crypto Legislation and Recent Developments

5min

Legal Hurdles and Market Movements

8min

Crypto markets are under the gun from SEC Chairman Gary Gensler’s ‘regulation by enforcement’ policy. Meanwhile, a divided political landscape creates gridlock on Capitol Hill. Democratic Representative Ritchie Torres (NY-15) claims regulators have overstepped their bounds, while generational divide in the Democratic party slows appropriate regulatory legislation from passing.

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Show highlights:

Why stablecoins are less dangerous than fractional reserve banking
How the current system fails to protect retail investors
Why Democrats and Republicans have flipped traditional stances on regulation
Increased skepticism after the FTX meltdown
Regulation by enforcement an abuse of power
If and when a digital asset is an investment contract
What he views as Prometheum’s planned political stunt
Resolving crypto’s long term problems responsibly

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Guest

Ritchie Torres, U.S. representative

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