CD264: Cryptocurrencies and Blockchain Jennifer Briney 1:02:27

FTX, a large cryptocurrency exchange, recently went bankrupt, leading to calls for government regulation of cryptocurrencies. But you might be wondering, what are cryptocurrencies? In part one of this two-part series, listen to expert testimony provided over a four-year period informing Congress about the cryptocurrency industry, the promise of blockchain, problems – both real and overblown – with this new technology, and how best to regulate this complicated industry.

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View the shownotes on our website at https://congressionaldish.com/cd264-cryptocurrencies-and-blockchain

Background Sources Recommended Congressional Dish Episodes

CD235: The Safe Haven of Sanctions Evaders

CD262: Inside C-SPAN with Howard Mortman

Proof of Work

Jake Frankenfield. May 2, 2022. “What Is Proof of Work (PoW) in Blockchain?” Investopedia.

Initial Coin Offering (ICO)

Jake Frankenfield. Aug 18, 2022. “Initial Coin Offering (ICO): Coin Launch Defined, with Examples.” Investopedia.

Sherwin Dowlat. Jul 11, 2018. “Cryptoasset Market Coverage Initiation: Network Creation.” Satis Group.

Madison Cawthorn

The Associated Press. Dec 7, 2022. “Rep. Madison Cawthorn broke rules over a ‘meme’ crypto, a House panel finds.” NPR.

Regulations

Cheyenne Ligon. Dec 5, 2022. “The ‘Good Cop and Bad Cop’ of US Crypto Regulations.” CoinDesk.

Bills S.4760 – Digital Commodities Consumer Protection Act of 2022

Sponsor: Sen. Debbie Stabenow

Audio Sources Cleaning Up Cryptocurrency: The Energy Impacts of Blockchains

January 20, 2022 House Committee on Energy & Commerce, Subcommittee on Oversight and Investigations

Watch on YouTube

Witnesses:

Ari Juels, Weill Family Foundation and Joan and Sanford I. Weill Professor, Jacobs Technion-Cornell Institute, Cornell Tech

John Belizaire, Chief Executive Officer, Soluna Computing, Inc.

Brian Brooks, Chief Executive Officer, BitFury

Steve Wright, Former Chief Executive Officer, Chelan County Public Utility District and Bonneville Power Administration

Gregory Zerzan, Shareholder Jordan Ramis P.C.

Schemes and Subversion: How Bad Actors and Foreign Governments Undermine and Evade Sanctions Regimes

June 16, 2021 House Committee on Financial Services, Subcommittee on National Security, International Development and Monetary Policy

Watch on YouTube

Witnesses:

Jesse Spiro, Global Head of Policy & Regulatory Affairs, Chainalysis

Eric B. Lorber, Senior Director, Center on Economic and Financial Power, Foundation for Defense of Democracies

Dollars Against Democracy: Domestic Terrorist Financing in the Aftermath of Insurrection

February 25, 2021 House Financial Services Committee, Subcommittee on National Security, International Development and Monetary Policy

Witness

Daniel Glaser, Former Assistant Secretary for Terrorist Financing and Financial Crimes, U.S. Department of the Treasury

Examining Regulatory Frameworks for Digital Currencies and Blockchain

July 30, 2019 Senate Committee on Banking, Housing, and Urban Affairs

Watch on C-SPAN

Committee concluded a hearing to examine regulatory frameworks for digital currencies and blockchain, including S. 2243, to amend the Expedited Funds Availability Act to require that funds deposited be available for withdrawal in real-time.

Witnesses:

Jeremy Allaire, Co-Founder, Chairman and Chief Executive Officer, Circle, on behalf of The Blockchain Association

Dr. Rebecca M. Nelson, Specialist in International Trade and Finance, Congressional Research Service

Professor Mehrsa Baradaran, Professor of Law, University of California, Irvine School of Law

Exploring the Cryptocurrency and Blockchain Ecosystem

October 11, 2018 Senate Committee on Banking, Housing, and Urban Affairs

Watch on C-SPAN

Committee concluded a hearing to examine the cryptocurrency and blockchain ecosystem, including S. 3179, to require the Comptroller General of the United States to carry out a study on how virtual currencies and online marketplaces are used to buy, sell, or facilitate the financing of goods or services associated with sex trafficking or drug trafficking.

Witnesses:

Dr. Nouriel Roubini, Professor of Economics and International Business, New York University Stern School of Business

Peter Van Valkenburgh, Director of Research, Coin Center

Cover Art

Design by Only Child Imaginations

Music Presented in This Episode

Intro & Exit: Tired of Being Lied To by David Ippolito (found on Music Alley by mevio)

Jennifer Briney Podcaster

Jennifer Briney started paying attention to world events while studying in Germany in the spring of 2003 when the United States overthrew the government of Iraq. After experiencing the war from outside the United States, she started asking questions about her government. Every answer led to fifty more questions. This led to a thirst for information that she is still unable to quench.

Over the years, the feeling like she was the only person paying attention to this information was making Jen insane so in late 2012, she launched Congressional Dish in order to share the information, to have an emotional outlet for dealing with the discoveries, and to create a community of people who were interested in Congress’s effect on our lives. Congressional Dish is now her full-time career, thanks entirely to the support from our growing community of producers from all over the world.