CryptoDad: The Fight for the Future of Money

It struck me as an instance of regulatory empire building—a classic Washington maneuver: recognize a new innovation in order to force ever more businesses into the regulatory framework.

The future of the US economy—and, indeed, the world's—will be determined at the dynamic intersection of markets, technology, and politics.

This wave will do to currency, financial instruments, and economic activity what the Internet of Information did to knowledge: reduce costs, increase speed, transcend barriers, improve accessibility, enhance certainty, and decrease bottlenecks to instantaneous transactions across the globe.

urged the CFTC and other US market regulators to follow five principles when regulating digital markets: embrace innovation, protect intellectual property, repurpose old rules for an emerging digital age, unburden the economy for growth, and champion US markets.

Money is as much a social construct as it is a government one. Together, we must make sure that the values that are enshrined today in the US dollar and the currencies of other democracies—values like individual liberty, freedom of speech, personal privacy, free enterprise, and the rule of law—are encoded in the digital money of the future.

Sir Jon Cunliffe, the widely respected deputy governor of the Bank of England, once commented to me that, every several generations, society re-asks the question: “What is money?” He thinks this latest Internet wave is prompting society to ask that question once again.

Many restaurants use the “Delmonico's” name. The original and, I believe, the best is at 56 Beaver Street in lower Manhattan

We need officials with courage, determination, foresight, and the willingness to take risk.

Crypto is not just a technology; it is a movement. One that offers the possibility of greater choice, independence, and opportunity for all. It can achieve things that our current systems can't even begin to contemplate.