Tuesday, July 5, 2022

Why the crypto crash is fueling calls for regulation

IMTFI Director Bill Maurer in GRID, June 27, 2022

“It’s going to lead to more regulation, especially because you have this awful mix of whatever is going to happen with this very uncertain economy, coupled with all of the marketing of crypto that’s happening right now to vulnerable and minority communities, all the celebrity endorsements,” said Bill Maurer, director of the Institute for Money, Technology and Financial Inclusion at the University of California, Irvine. “The thing is, if regulation is going to happen, it better happen fast.” … “One of the foundational mythologies of crypto is that you’re going to have this private money and finance that is unregulated and yet still secure, because of the technological workaround,” Mehrsa Baradaran, a professor at the University of California, Irvine, School of Law and author of “The Color of Money” and “How the Other Half Banks.”

For the full story, "Why the crypto crash is fueling calls for regulation: Existing bills and the human toll is creating a perfect storm" by Benjamin Powers, please visit https://www.grid.news/story/technology/2022/06/27/why-the-crypto-crash-is-fueling-calls-for-regulation/.

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