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Congress needs digital assets
On the World of DaaS podcast, former Undersecretary of the U.S. Treasury for Terrorism and Financial Intelligence Sigal Mandelker discusses crypto’s transformative potential and crypto rule-making challenges in the U.S. government today.
Mandelker believes a hurdle for effective crypto legislation is the inability for members of government to own and interact with crypto technology due to current laws. She says, “[In] order to make smart rules about this particular set of problems, people in the government need to understand what the h*ll this is. And there are massive restrictions today that are ethical restrictions that completely block the ability of the people who have to make the decisions to actually interact with the technology. It’s crazy.”
Mandelker continues, “If you’re in any kind of policy role overseeing crypto, you can’t actually go online and see what Solana is, you can’t send Bitcoin, you can’t have Bitcoin. (…) The rules are massively onerous. (…) People in the government today who are making policy/regulatory decisions about crypto can’t own it/access it.” She worries that this will lead to the United States “disadvantaging itself globally.” Hear more.
Mandelker is a part of Ribbit Capital, a fintech and crypto investment firm.
digital assets help
Bermuda publication The Royal Gazette reports that Bermuda Premier David Burt “used his first official visit to Washington DC since before the Covid pandemic to discuss Bermuda’s digital asset industry ambitions.”
