Four Reasons to Regulate Crypto
July 21, 2022
Why We Need to Regulate Crypto
The hype around cryptocurrencies is big: ubiquitous headlines, high-profile ads, and celebrity endorsements from the likes of Reese Witherspoon and LeBron James.
But to mitigate crypto’s risks to people, the US financial system, and the planet, we must address its flaws head-on.
“With any product or service where many people are investing lots—sometimes most—of their money in risky assets, the federal government has a responsibility to prevent fraud, abuse, and the resulting economic precarity faced when overhyped markets crash. Crypto needs just such regulation,” Roosevelt’s Emily DiVito and Joseph Miller write.
“But in order to effectively regulate crypto in the public interest, we need to be clear-eyed about the range of threats it poses—to individuals, families, and the macroeconomy as a whole.”
Read on for four reasons to regulate crypto, and stay tuned for more in our new series, The Progressive Case for Crypto Regulation.
What Declaring a Climate Emergency Could Allow
Though President Biden used the word “emergency” to describe climate change this week, he did not formally declare a national emergency—a step that would have cleared the way for more significant executive action.
“We’ve written @rooseveltinst about some of the procedural hurdles that are cleared for strong executive action once an emergency is declared,” Roosevelt’s Todd N. Tucker tweeted.
“Indeed, executive powers could help build new industries like green steel and domestic solar.”
Read more of Tucker’s analysis of executive branch powers.
What We’re Reading
There’s a Reason We Can’t Have Nice Things [feat. Roosevelt’s Mike Konczal] – New York Times
Save Local News. Our Democracy Depends on It. – The Nation
Joe Manchin Is a Symptom, but It’s the Senate That’s Sick – New York Times
Meet the New GDP Prototype That Tracks Inequality – NPR Planet Money