Cato Daily Podcast What Congress Can Do for Financial Privacy, Innovation, and Freedom
Feb 4, 2025
Jennifer Schulp, a financial regulation expert at the Cato Institute, and Norbert Michel, vice president and director of financial alternatives at Cato, dive into the urgent need for Congress to enhance financial privacy and innovation. They discuss a recent executive order benefiting digital assets and its implications for cryptocurrency policy. The pair also advocate for reforming the Bank Secrecy Act, improving Federal Reserve accountability, and the crucial micro-offering exemption, promoting small business growth while addressing the housing crisis with actionable recommendations.
AI Snips
Chapters
Transcript
Episode notes
Prioritize Financial Privacy and Bank Secrecy Act Reforms
- Congress should prioritize financial privacy and Bank Secrecy Act reforms.
- These reforms are crucial for both core rights and cryptocurrency issues.
Executive Order on Digital Assets: A Positive Start
- The new administration's positive stance towards digital assets, confirmed by the executive order, aligns with crypto market expectations.
- This order mainly sets a positive tone and initiates a process, with concrete impacts on the industry dependent on future regulation.
Address Financial Privacy for Broader Innovation
- Address financial privacy reforms to facilitate innovation across financial markets.
- These reforms particularly impact how banks interact with crypto markets.