The collapse of FTX has intensified the debate about how cryptocurrencies should be regulated, including proposed federal legislation. With a string of cryptocurrency failures and tens of billions in losses for investors, increased regulation has become a hot topic. As Bloomberg summarized: “Crypto is squarely in the cross hairs of Washington” and “Oversight of digital assets is among the most pressing issues for US financial watchdogs.”
Should cryptocurrency firms be regulated as banks? Should cryptocurrency assets be regulated as securities or as commodities? If so, who is the right regulator? Do we need new federal legislation? With enhanced financial and risk disclosures, should cryptocurrency firms only be subject to standard commercial law and, if they fail, normal bankruptcy proceedings? These issues will be addressed by this fourth in a continuing series of cryptocurrency webinars presented by the Federalist Society’s Financial Services and E-Commerce Practice Group.
The Honorable Cynthia Lummis, United States Senator, Wyoming
Jerry Loeser, Of Counsel, Winston & Strawn LLP (Retired)
Steve Lofchie, Partner, Financial Services, Fried Frank
Alex J. Pollock, Senior Fellow, Mises Institute
Moderator: J.C. Boggs, Partner, Government Advocacy and Public Policy, King & Spalding