This episode is sponsored by, Quantstamp and EY.

U.S. securities laws, largely dating back to the 1930s, are proving to be a challenge to integrate into the developing world of blockchain technology.

Joining this episode of “Money Reimagined” with Sheila Warren and Michael Casey is Chris Brummer, Professor of Law at Georgetown University Law Center. Brummer introduces what defines a security, then describes where these definitions fall short when it comes to blockchain technology.

Brummer’s recent white paper, “Disclosure, Dapps and DeFi,” published in the Stanford Journal of Blockchain Law and Policy, details his ideas for a new disclosure framework for crypto markets. He walks through how disclosure integration with decentralized finance could achieve key policy goals like protecting against fraud, maintaining level playing fields and promoting consumer education without burdening innovation.


Consensus 2022, the industry’s most influential event, is happening June 9-12 in Austin, Texas. If you’re looking to immerse yourself in the fast-moving world of crypto, Web 3 and NFTs, this is the festival experience for you. Use code MONEYREIMAGINED15 to get 15% off your GA and Pro pass at

This episode was produced and edited by Michele Musso with announcements by Adam B. Levine and additional production support by Eleanor Pahl. Our theme song is “Shepard.”