FTX, a large cryptocurrency exchange, recently went bankrupt, leading to calls for government regulation of cryptocurrencies. But you might be wondering, what are cryptocurrencies? In part one of this two-part series, listen to expert testimony provided over a four-year period informing Congress about the cryptocurrency industry, the promise of blockchain, problems - both real and overblown - with this new technology, and how best to regulate this complicated industry.
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View the shownotes on our website at https://congressionaldish.com/cd264-cryptocurrencies-and-blockchain
Background Sources Recommended Congressional Dish EpisodesCD235: The Safe Haven of Sanctions Evaders
CD262: Inside C-SPAN with Howard Mortman
Proof of WorkJake Frankenfield. May 2, 2022. "What Is Proof of Work (PoW) in Blockchain?" Investopedia.
Initial Coin Offering (ICO)Jake Frankenfield. Aug 18, 2022. “Initial Coin Offering (ICO): Coin Launch Defined, with Examples.” Investopedia.
Sherwin Dowlat. Jul 11, 2018. “Cryptoasset Market Coverage Initiation: Network Creation.” Satis Group.
Madison CawthornThe Associated Press. Dec 7, 2022. "Rep. Madison Cawthorn broke rules over a 'meme' crypto, a House panel finds." NPR.
RegulationsCheyenne Ligon. Dec 5, 2022. “The ‘Good Cop and Bad Cop’ of US Crypto Regulations.” CoinDesk.
Bills S.4760 - Digital Commodities Consumer Protection Act of 2022Sponsor: Sen. Debbie Stabenow
Audio Sources Cleaning Up Cryptocurrency: The Energy Impacts of BlockchainsJanuary 20, 2022
House Committee on Energy & Commerce, Subcommittee on Oversight and Investigations
Watch on YouTube
Witnesses:
Ari Juels, Weill Family Foundation and Joan and Sanford I. Weill Professor, Jacobs Technion-Cornell Institute, Cornell Tech
John Belizaire, Chief Executive Officer, Soluna Computing, Inc.
Brian Brooks, Chief Executive Officer, BitFury
Steve Wright, Former Chief Executive Officer, Chelan County Public Utility District and Bonneville Power Administration
Gregory Zerzan, Shareholder Jordan Ramis P.C.
Schemes and Subversion: How Bad Actors and Foreign Governments Undermine and Evade Sanctions RegimesJune 16, 2021
House Committee on Financial Services, Subcommittee on National Security, International Development and Monetary Policy
Watch on YouTube
Witnesses:
Jesse Spiro, Global Head of Policy & Regulatory Affairs, Chainalysis
Eric B. Lorber, Senior Director, Center on Economic and Financial Power, Foundation for Defense of Democracies
Dollars Against Democracy: Domestic Terrorist Financing in the Aftermath of InsurrectionFebruary 25, 2021
House Financial Services Committee, Subcommittee on National Security, International Development and Monetary Policy
Witness
Daniel Glaser, Former Assistant Secretary for Terrorist Financing and Financial Crimes, U.S. Department of the Treasury
Examining Regulatory Frameworks for Digital Currencies and BlockchainJuly 30, 2019
Senate Committee on Banking, Housing, and Urban Affairs
Watch on C-SPAN
Committee concluded a hearing to examine regulatory frameworks for digital currencies and blockchain, including S. 2243, to amend the Expedited Funds Availability Act to require that funds deposited be available for withdrawal in real-time.
Witnesses:
Jeremy Allaire, Co-Founder, Chairman and Chief Executive Officer, Circle, on behalf of The Blockchain Association
Dr. Rebecca M. Nelson, Specialist in International Trade and Finance, Congressional Research Service
Professor Mehrsa Baradaran, Professor of Law, University of California, Irvine School of Law
Exploring the Cryptocurrency and Blockchain EcosystemOctober 11, 2018
Senate Committee on Banking, Housing, and Urban Affairs
Watch on C-SPAN
Committee concluded a hearing to examine the cryptocurrency and blockchain ecosystem, including S. 3179, to require the Comptroller General of the United States to carry out a study on how virtual currencies and online marketplaces are used to buy, sell, or facilitate the financing of goods or services associated with sex trafficking or drug trafficking.
Witnesses:
Dr. Nouriel Roubini, Professor of Economics and International Business, New York University Stern School of Business
Peter Van Valkenburgh, Director of Research, Coin Center
Cover ArtDesign by Only Child Imaginations
Music Presented in This EpisodeIntro & Exit: Tired of Being Lied To by David Ippolito (found on Music Alley by mevio)
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