Until this year’s massive correction in token prices with the related collapse of Terra, Celsius Network and other once-big players, industry leaders could argue that a lightweight touch to regulation would allow innovation in this booming sector to flourish, however the extent of the losses has swung the balance in favor of regulators.
Recently, concerns have been raised with Tornado Cash, a decentralized software that mixes ether (ETH) payments to hide users’ tracks. The usage of this Ethereum-based smart contract has been banned for all US citizens and companies since it was added to the U.S. OFAC SDN list due to North Korean hackers using the program.
On today’s episode of “Money Reimagined,” discussing crypto regulation with host Michael Casey, is Tonya Evans, professor at Penn State Dickinson Law, a published author and influential crypto adviser with expertise in blockchain and crypto asset law, information privacy, administrative law and social justice.
Overcompensation happens in finance and there’s a good chance it will happen with crypto.
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This episode was produced and edited by Michele Musso with announcements by Adam B. Levine and our executive producer is Jared Schwartz. The theme song is “Shepard.”