Digital asset regulation: The state perspective

Cryptocurrency and other digital assets have exploded in valuation, media attention, and interest from investors, financial technology companies, and regulators. These assets have experienced sharp increases and decreases in value, and several have imploded into bankruptcy with severe consequences for investors. Digital assets and cryptocurrency challenge existing legal and regulatory definitions and frameworks, often straddling lines in ways 20th century law never contemplated. Regulators at both the federal and state levels have been working to try to protect consumers and investors, safeguard the financial system, and allow for innovation and competition.

On Tuesday, November 15, the Center on Regulation and Markets convened the third event of our series on regulating digital assets. Keynoting was the New York Department of Financial Services Superintendent Adrienne A. Harris, who discussed her perspective as a state regulator dealing with digital assets and cryptocurrency. The event also featured two panels of experts, one focused on issues of prudential regulation, supervision, safety, and soundness, and a second focused on issues of consumer and investor protection.

Viewers can follow along with the conversation on Twitter using the hashtag #FutureCryptoReg and submit questions using that hashtag or via email to events@brookings.edu.

Watch the first event of this series here: Digital asset regulation: The federal market regulator perspective.

Watch the second event of this series here: Digital asset regulation: The prudential perspective.