“What you always do before you make a decision is consult. The best public policy is made when you are listening to people who are going to be impacted. Then, once a policy is determined, you call on them to help you sell it.”
— Elizabeth Dole

News - 02 Dec 2021

Georgia wins put Schumer in control of Senate, Democrats in charge of committee agenda
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Elaine Chao to resign as transportation secretary in wake of riot
Transportation Secretary Elaine Chao is resigning, a White House official and a person familiar with the situation tell CNN. More
After Capitol riots, AOC demands Cruz, Hawley resign from the Senate
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Transportation Secretary Elaine Chao resigns after Capitol rioting
Transportation Secretary Elaine Chao announced Thursday that she is stepping down from her post, a day after the rioting on Capitol Hill -- making her the latest member of the administration to resign over Trump’s conduct, and the first Cabinet member to do so. More
West Virginia lawmaker under pressure to resign after recording himself storming the US Capitol
A Republican lawmaker from West Virginia is being pressured to resign after posting and then deleting a video from social media of himself storming the nation's Capitol building Wednesday with hundreds of other pro-Trump protesters.  More

Regulating Cryptocurrencies:
Protecting Investors and Mitigating Environmental Damage

Date of Event: Friday, January 21st 2022

Time of Event: 11:20 AM — 2:20 PM

Place of Event: Webinar

Key Speakers

Tao Li, Assistant Professor of Finance, University of Florida Warrington School of Business
Stewart Fleming, Associate Fellow, Global Economy and Finance Program, Catham House
Jiasun Li, Assistant Professor of Finance, George Mason University

Overview

The prospect of realizing returns from currency appreciation and making investments independently of intermediaries has driven an increasing number of investors to purchase cryptocurrencies. While demand for cryptocurrency is soaring, regulation of the industry is lagging. In a response letter to Senator Elizabeth Warren, SEC chairman Gary Gensler wrote that mass illicit activity committed by cryptocurrency platforms is raising “a number of issues related to protecting investors and consumers, guarding against illicit activity, and ensuring financial stability.” These dangers stem from centralized and decentralized cryptocurrency exchanges being exempt from many of the regulations that financial institutions and securities exchanges are mandated to follow. For instance, many cryptocurrency exchanges are vulnerable to costly hacks and breaches because the exchanges are not mandated to obtain the cyber security systems that financial institutions are mandated to hold (Brookings Institute). In addition, the absence of oversight in DeFi platforms has led to widespread cryptocurrency fraud that is costing cryptocurrency consumers and investors tens of millions of dollars monthly (Elizabeth Warren letter to chairman Gensler).

To make matters worse, insufficient cryptocurrency regulation threatens more than just those directly involved in the cryptocurrency market. For one, cryptocurrencies are enabling criminal activity by making criminal transactions less detectable. Cryptocurrencies have become mediums of exchange in many illicit markets because suppliers and consumers can receive and transfer cryptocurrencies without revealing their names and identity (AEI 2018). Beyond the criminal sphere, the mining of crypto assets is causing great harm to the environment. In fact, Bitcoin, alone, emits 36.95 megatons of CO2 each year and is forecasted in 30 years to increase global temperatures by 35.6 degrees Fahrenheit (Sierra Club 2021). Without new regulation, cryptocurrency mining will push our planet further down a collision path towards a point of no return.

This timely symposium offers an opportunity for those working in the finance industry, government, cybersecurity sector, and law enforcement to discuss strategies to improve investor security and correct negative externalities associated with cryptocurrency markets. Participants will discuss best practices for enhancing collaboration between stakeholders and consider ways to overcome challenges. Delegates will review recent policy developments and identify priorities for the future.

Program

· Discuss ways to protect the financial system from cryptocurrency-induced instability

· Share strategies to reduce the environmental impact of crypto currency mining

· Survey regulatory means to prevent the use of crypto currencies for illicit activities

· Consider how to better protect consumers from irreversible and fraudulent transactions involving cryptocurrency made on their behalf

· Explore strategies to combat denial-of-service attacks and other cyberattacks on cryptocurrency exchanges

· Reconcile the contradictory needs to increase accountability and maintain consumer-privacy in the crypto-assets market

· Deliberate methods to root out the existence of imperfect information plaguing cryptocurrency exchanges

· Discuss ways to incentivize the creation and enforcement of self-regulation within the cryptocurrency market

· Examine existing regulations in the cryptocurrency market

Who Should Attend?

· Law Professors

· Economics Professors

· Federal and State Regulators

· Currency Regulators

· Members of the Finance Sector

· Cheif Compliance Officers

· Compliance Managers

· Investors

· Lawyers

· Judges

· Cybersecurity sector employees

· Consumer Advocates

· Lobbyists

Sponsorship and Exhibition Opportunities

If you’re interested in promoting your company, products and/or services at our events, please click here to enter your details and we will contact you directly. Alternatively, please call
(424) 252-4716 for more information.

How to Book

(424) 252-4716
bookings.at.publicpolicyexchange.com