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Senate Bill Risks Innovation and Free Speech with Stablecoin Ban
Sens. Cynthia Lummis and Kirsten Gillibrand this week introduced a bill to create a regulatory framework for stablecoins, which is a laudable endeavor. Unfortunately that bill also includes a complete...
The CANSEE Act is a messy, arbitrary, and unconstitutional approach to DeFi
Yesterday Senators Reed, Rounds, Warner, and Romney introduced the Crypto-Asset National Security Enhancement (CANSEE) Act in the Senate. This bill comes as a surprise as it was apparently developed without...
How Congress should (and should not) approach DeFi
Given that Congress is now considering cryptocurrency market structure legislation, we felt it was important to reiterate the distinction between activities by market actors that may be appropriately regulated, and...
The bipartisan Digital Asset Anti-Money Laundering Act, introduced today by Sens. Warren and Marshall, is the most direct attack on the personal freedom and privacy of cryptocurrency users and developers...
Does the Merge change how Ethereum is regulated? (No.)
The Ethereum Merge is resurfacing questions about regulatory differences between proof-of-stake and and proof-of-work. As we've said many times, we do not believe that the technological differences between POS and...
Today Senate Agriculture Committee Chairwoman Stabenow, Ranking Member Boozman, Senator Booker, and Senator Thune introduced the Digital Commodities Consumer Protection Act of 2022. It seeks to regulate cryptocurrency exchanges as...
A new SEC proposal has a serious change hidden within its complex language.
Today Coin Center filed a comment letter with the Securities and Exchange Commission on its proposed rulemaking regarding the definition of ‘exchange’ and Alternative Trading Systems. Bottom line: The Commission's...
How policymakers should think about “staking”
A misconception we sometimes see from policymakers looking at cryptocurrency networks is that “staking” and “staking rewards” are some kind of security or interest-bearing lending activity that should be subject...
Two new bills in Congress would clarify agency jurisdiction over cryptocurrency
Three longstanding policy issues facing cryptocurrency technology are being addressed by two new bi-partisian bills introduced in the House today: (1) the patchwork of state-by-state licensing of exchanges, (2) the...
The ideal regulatory environment for Bitcoin
We’re often asked what our ideal regulatory environment would be for Bitcoin and cryptocurrencies like it. A few years ago, in a regulatory submission to the Indian Ministry of Finance,...