Regulation
It’s hard to set rules now
Programming Note: Money Stuff will be on hiatus tomorrow and Friday, will return on Monday, and there will be no Money Stuff podcast this week. Happy Independence Day!
Could it be impossible for the US Securities and Exchange Commission to write new rules for cryptocurrencies? We have spokeover the years, From how the cryptocurrency industry often claims it wants the SEC (or the Commodity Futures Trading Commission, or Congress) to write rules governing cryptocurrency markets, so the industry can have regulatory clarity and continue building the future of finance or whatever. Instead, cryptocurrency people complain, it’s “regulation by enforcement”: instead of writing clear rules saying what’s allowed, the SEC decides on a case-by-case basis what’s not allowed, and then sues the people who have already done so and makes them pay huge fines.