Chapter
The Need for Updated Regulations in the Self-Custodial Asset World
43:09 - 49:56 (06:47)
As more people take control of their own assets through self-custody, there is a need for updated regulations regarding information security, AML, and KYC. Congress needs to update existing laws to allow the CFTC and SEC to do their job, even as new coins that assume inflation are emerging.
Clips
The podcast discusses the importance of AML and KYC procedures in traditional securities and questions whether these procedures are necessary for buying tokens on blockchain or participating in blockchain as a user.
43:09 - 45:12 (02:03)
Summary
The podcast discusses the importance of AML and KYC procedures in traditional securities and questions whether these procedures are necessary for buying tokens on blockchain or participating in blockchain as a user. Additionally the speakers stress the need for more than just AML and KYC to create a functioning ecosystem in the decentralized space.
ChapterThe Need for Updated Regulations in the Self-Custodial Asset World
EpisodeE77: Tech work culture, crypto regulation, stablecoins, $NFLX & more w/ Coinbase CEO Brian Armstrong
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The emergence and growth of tools such as social recovery of keys and smart contract wallets, along with the development of new coins like "flat coins" and USD coin, are leading towards the idea of self-custody and control over one's own assets.
45:12 - 49:56 (04:44)
Summary
The emergence and growth of tools such as social recovery of keys and smart contract wallets, along with the development of new coins like "flat coins" and USD coin, are leading towards the idea of self-custody and control over one's own assets. Congress needs to update laws to allow regulatory bodies like the CFTC and SEC to keep up with these developments.