Up next in 10
Navigating the Complex World of Crypto Markets💡
Sep 26, 2024
In this discussion, we explore the challenges of trust and transparency in the crypto space. Are clear regulations the answer? Join us as we delve into the implications for investors, market efficiency, and the future of cryptocurrencies. #CryptoMarkets #InvestSmart #BlockchainTrust #FinancialRegulations #MarketIntegrity #FutureOfFinance #CryptocurrencyInsights #BitcoinTalk #CryptoCommunity #InvestorProtection
View Video Transcript
0:00
but there's some argument to be made
0:01
that you want this that actually it' be
0:03
better if all this business was
0:04
happening in the US you talk about an
0:05
SPF obviously that was taking place in
0:07
the Bahamas and you know a lot of people
0:09
were trying to do things in other places
0:11
if it if if there was a real regime here
0:15
that everybody could trust and and and
0:18
we had established rules and there
0:19
weren't these questions about whether
0:21
you were going to over you know go over
0:22
the line or you're behind the where the
0:24
line was would that be better I think
0:27
that we do have those see you think
0:28
those lines exist why then why do people
0:31
in the industry say that they don't know
0:33
what the rules are look not liking the
0:35
roles is not the same as that there
0:37
aren't roles and I think there's a lot
0:39
that have profited off of the Public's
0:42
interest in this field but profited
0:44
without the proper disclosures and
0:46
inherently there's business models that
0:48
are have a lot of conflicts and we've
0:50
seen the results of that time and and
0:53
time again outside of crypto and inside
0:56
of crypto we see what happens when
0:57
there's so inherent conflict so we've
1:00
got 90 years of experience with this
1:02
Andrew it it it works reasonably well
1:04
we've got the deepest most liquid
1:06
Capital markets we're trying to make
1:08
them more efficient what we're doing in
1:11
the equity markets we're doing treasury
1:13
market to top tier crypto that's that's
1:16
my take what's that I think you're
1:17
warming up to top tier crypto I don't
1:21
think you think it's a monolith I think
1:23
you think there might be some actual
1:26
usage or benefit to top tier crypto have
1:30
I got would you say recently you're
1:32
evolving to where go ahead Joe where are
1:35
you on what's called a coins there's 15
1:37
or
1:38
20,000 you but you when when you came in
1:41
you said you know that I probably only
1:43
owned Bitcoin and you you act like
1:45
that's okay for me because I don't own
1:47
all the all the garbage I think you you
1:49
were thinking so I I just get the feel
1:51
garbage was your word I know but am I
1:53
are you not that kind of it was not that
1:55
kind of a word that actually Joe for the
1:58
public used a stronger word than garbage
2:01
I did but are you warming up to do do
2:04
you see that that it's probably here to
2:06
stay in something that could be useful
2:08
this is something I said to students
2:10
four and five years ago I know but you
2:11
didn't say it to once you were the SEC
2:14
chair that this field will not long
2:17
persist without investor protection okay
2:21
or consumer protection number two number
2:23
two many of these projects without
2:26
prejudging anyone are tapping into the
2:29
Public's interest to raise money raise
2:31
money that's the classic Securities sort
2:34
of uh right protections that you put in
2:37
place uh you can you can decide to go
2:42
long or
2:43
short these uh uh projects but you need
2:48
the disclosures and and as it relates to
2:52
bitcoin my predecessor and I have said
2:54
that's not a security you now have a way
2:57
that you can actually Express that view
2:59
by into that through exchange traded
3:02
products traded on NASDAQ traded on New
3:05
York Stock Exchange and the like okay
3:08
that's a yes that's that if we were
3:10
where do you think Bitcoin is going to
3:12
be in our society 20 years from now if
3:15
you I don't I don't I don't really know
3:18
any idea I don't know I mean there's
3:19
seven billion people around the globe um
3:23
I'm not going to make a prediction as to
3:25
any one project but what I would say is
3:28
the field is going to have a challenge
3:30
building trust right and it already has
3:33
a challenge building trust when there's
3:37
so many frauders scammers grifters in
3:40
the field and there are but what happen
#Business & Industrial
#Computers & Electronics
#Finance
#Law & Government