Bankless 81 - The Digital Commodity Explosion | Brian Quintenz
Sep 6, 2021
Brian Quintenz, former commissioner of the Commodity Futures Trading Commission, shares his insights on crypto regulation. He discusses the challenges the U.S. faces in embracing innovation within the crypto space. Quintenz advocates for a pro-innovation approach, balancing consumer protection with regulatory experimentation. He also explores the unique regulatory powers over digital commodities and the ongoing tensions between innovation and compliance. The conversation offers a profound understanding of the crypto landscape and the need for thoughtful regulation.
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US Government and Crypto
- The US government's stance on crypto varies over time and depends on individuals in authority.
- Current environment appears more negative due to regulatory control dynamics and potential self-serving motives.
Quintenz's Take on Crypto Value
- Brian Quintenz recognizes the inherent value of Bitcoin and Ethereum.
- He believes the focus should be on addressing regulatory processes, not necessarily creating new laws for crypto.
CFTC History
- The CFTC's creation dates back to the 1850s with the emergence of agricultural futures markets in Chicago.
- It evolved over time, gaining independence and expanding its jurisdiction to include financial futures and swaps.