Whereas attending the MIT Bitcoin Expo this previous weekend, I used to be afforded the chance to sit down down with Timothy Massad, Analysis Fellow on the Kennedy Faculty of Authorities at Harvard College and former Chairman of the U.S. Commodities and Futures Buying and selling Fee (CFTC).
Massad served as the pinnacle of the CFTC from 2014 to 2017, and it was beneath his management that bitcoin was categorised as a commodity.
Lately, Massad has shared his ideas on what regulation round bitcoin and digital belongings ought to appear like. He’s appeared on Bloomberg to debate the matter, and he just lately testified on the first Senate Banking Subcommittee listening to on Digital Property.
Massad considers the necessity to steadiness person privateness when utilizing public blockchains with the necessity for the U.S. authorities to watch the networks for illicit actions as one the most important challenges that regulators at the moment face — and he doesn’t declare to have the reply as to how that is greatest achieved.
He defined that it’s necessary that folks can’t see the steadiness of our funds or the whole thing of our transaction historical past after we do one thing as trivial as paying for a cup of espresso with a digital asset.
In our dialog, he acknowledged that the innovator who develops the expertise that finds this steadiness may have discovered the “holy grail.”
You may watch the interview right here: