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

Thank you to our sponsors!

• Crypto.com
• Railgun DAO
• Ondo Finance
• Arbitrum Foundation

Guest

•  Ritchie Torres, U.S. representative

Links

• Fortune: Ritchie Torres went from crypto ‘newbie’ to key ally in Washington. Now he could shape the industry’s post-FTX future
• NY Daily: A liberal case for cryptocurrency
• CoinDesk: Rep. Ritchie Torres: We've Seen a 'Weaponization of the SEC' From Gensler Against Crypto Industry
• U.S. Financial Service Committee: McHenry, Thompson, Hill, Johnson Release Digital Asset Market Structure Proposal
• Bloomberg Law: McHenry Says White House Torpedoed Bipartisan Stablecoin Deal
• NBC: Sen. Cynthia Lummis: Crypto regulation bill could prevent another FTX-style crisis
• Rep. Torres’s open letter to Gensler following the Ripple decision
• Rep. Torres’ speech

Previously on Unchained

• Why the SEC Doesn’t Want the Ripple Case to Go to the Supreme Court
• New Order in SEC vs. Ripple Over XRP Is a Win for Crypto: What Happens Now?
• Why the SEC vs. Ripple Order Is Now About 2 Things: Coinbase and Congress

Learn more about your ad choices. Visit megaphone.fm/adchoices