Digital Assets Mature! Regulation On the Horizon.⏰

Hello Everybody! Jake McCarthy here, On Wednesday a congressional hearing with six large CEO’s in the digital asset space made significant steps in educating lawmakers on the importance of blockchain technology. Below is a breakdown of everything you need to know about the hearing and where I see all of this heading. - Lawmakers are still unsure how this industry should be regulated. (You’re that early) - The knowledge gap between participants of this space and regulators is closing. - Stable coins and central bank digital currencies (CBDCs) were the hot topic. The executive included; Circle CEO Jeremy Allaire, FTX Trading CEO Sam Bankman-Fried, Paxos CEO Chad Cascarilla, Stellar Development Foundation CEO Dennelle Dixon, and BitFury CEO Brian Brooks. Regulation is a Positive Thing, If Done Correctly I want to reinforce this to you all, you’re so early lawmakers don’t even know how, or who should, regulate this technology. So no, you haven’t missed the boat, not by a long shot. Without fitting in a public policy framework, digital assets would not thrive. However, as Alesia Haas the CFO of Coinbase put it, a heavy handed approach “can effectively push crypto activity underground or to offshore exchanges that have little or no compliance programs”. Jeremy Allaire, the CEO of [Circle]( firmly believes that we need to make the United States an incubator for emerging technologies. He said “The policy framework should support an open and competitive playing field and allow new technologies to flourish”. If regulators took a heavy handed approach to the development of the internet in the early 80’s and 90’s I doubt we would have companies like Apple, Microsoft, Google, or Amazon call the USA home. Stable Coins, CBDCs, & Digital Assets CBDCs, this will be an acronym you’ll hear more and more. Not just in the digital asset ecosystem, but in macro-economic policy. These WILL utilize blockchain. Stable coins and CBDC’s were the focus of this hearing, along with general education for regulators. We’ve highlighted many, many, times the importance of a few digital assets that we believe will allow you to truly own a slice of the CBDC pie in our Master Club streams. CBDCs allow central banks to effectively utilize how money is currently being created and spent (I’d argue out of thin air through treasury bonds and fractional reserve lending) with much more utility. To read more about CBDCs click [here](. In short, CBDCs allow banks to program money in ways they see fit. This put’s stable coins like, USDC, USDT, & USDP, as pioneers and almost competition to CBDC’s. Final thoughts You’re early, so early that regulators don’t understand what is being created with Web 3, blockchain technology, and digital assets. However, as Gery Gensler the head of the SEC said “Few technologies in history, since antiquity, can persist for long periods of time outside of public policy frameworks”. Digital assets, blockchain, machine learning, artificial intelligence, the automation of labor, these are the crux of the [fourth industrial revolution](. All of which are vastly interconnected with one another. What we will see 10-12 years from now will make The Grapes of Wrath look like a walk in the park. To read more about this check out [this report]( from Oxford Economics. Blockchain is the most crucial technology to enable the digital world economy. So dive in head first, or just dip your toes with me at Coin Command. 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