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 underneath his management that bitcoin was labeled 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 not too long ago testified on the first Senate Banking Subcommittee listening to on Digital Belongings.
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 largest challenges that regulators at present face — and he doesn’t declare to have the reply as to how that is greatest achieved.
He defined that it’s necessary that individuals can not 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 said that the innovator who develops the expertise that finds this steadiness could have discovered the “holy grail.”
You possibly can watch the interview right here:
