Thread by @playtern

A Playtern's Notes on the Senate Committee Hearing | Cryptocurrencies: What are they good for?

Chairman @SenSherrodBrown & Ranking Member @SenToomey Statements

⏹ On "Decentralized" being misleading
⏹ On Financial stability risk having a parallel financial system
⏹ On Congress using the same legal terms
⏹ On Crypto & DLT use-cases
⏹ On Open source finance creating a level playing field
⏹ On Money laundering

⏹ On new disruptive technologies
⏹ On systemic risks
⏹ On sanction evasion & ransomware
⏹ On tools to prevent use of mining to avoid sanctions
⏹ On Miners
⏹ On @Filecoin
⏹ On setting international standards

⏹ On cryptocurrencies potentially disrupting swift global payments network
⏹ On why China Digital Yuan not a threat to USD
⏹ On crypto being regulated the same was as the conventional monetary system

⏹ On crypto being really decentralized
⏹ On crypto being safe and secure
⏹ On evaluating crypto vs other possibilities
⏹ On how crypto miners take advantage
⏹ On how should we think about miners and their power

Witnesses:

Professor @angela_walch
Mr @jerrybrito
Ms @MartaBelcher

Definitely evident that there's a lot of misunderstood concepts which needs to be explained more in-depth, issues and concerns to be raised, and decisions to be made.

Hopefully, with regulatory clarity, it will drive more innovators to the space, limit illicit activities and make the space even better than it was before we had these discussions.

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Notes / Pod / Intern Squad 👇
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