Bloomberg Law senior data analytics manager Tom Shen and senior legal analyst Robert Kim explain the mechanics of cryptocurrencies and how they intersect with regulators and traditional banking. Shen discusses how blockchain technologies are streamlining banking processes and explains why stablecoins aren’t necessarily stable.
Federal and state agencies are turning their attention to the cryptosphere, according to Kim, but the U.S. regulatory system may be moving too slowly to avoid falling behind to China and other countries on crypto. Going forward, law firms and companies can expect more requests for compliance advice and defenses against enforcement in uncertain regulatory territory.
Cryptocurrency Part 2 will feature SEC Commissioner Hester Peirce, also known as “crypto mom.” In Part 3, we’ll interview Linda Lacewell, Superintendent of the New York State Department of Financial Services about Bitlicenses for cryptocurrencies.
Law X.0 is a podcast focused on the leading edge of law and the legal industry. Stay tuned for more emerging legal topics.
Hosts: Dori Goldstein and Meg McEvoy
Guests: Robert Kim, senior legal analyst at Bloomberg Law; Tom Shen, senior data analytics manager at Bloomberg Law
Producer: RJ Jewell