Rep. Ritchie Torres on Why Congress Should Make Clear Crypto Laws
U.S. Representative Ritchie Torres explains why he believes crypto has a generational, not partisan divide, and why says regulators need to get out of the way when it comes to protecting investors.
Posted July 28, 2023 at 7:00 am EST.
Crypto markets are under the gun from SEC Chairman Gary Gensler’s ‘regulation by enforcement’ policy. Meanwhile, a divided political landscape creates gridlock on Capitol Hill. Democratic Representative Ritchie Torres (NY-15) claims regulators have overstepped their bounds, while generational divide in the Democratic party slows appropriate regulatory legislation from passing.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
Show highlights:
Why stablecoins are less dangerous than fractional reserve banking
How the current system fails to protect retail investors
Why Democrats and Republicans have flipped traditional stances on regulation
Increased skepticism after the FTX meltdown
Regulation by enforcement an abuse of power
If and when a digital asset is an investment contract
What he views as Prometheum’s planned political stunt
Resolving crypto’s long term problems responsibly
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