Pat Toomey, U.S. Senator for Pennsylvania, talks about legislation in the crypto industry, how to determine if something is a security, the future of CBDCs, and much more.    Show highlights: <ul> <li style="font-weight: 400;" aria-level="1">the structural differences between crypto tokens and securities</li> <li style="font-weight: 400;" aria-level="1">why Sen. Toomey is demanding crypto legislation</li> <li style="font-weight: 400;" aria-level="1">why “regulation by enforcement” does not provide clarity</li> <li style="font-weight: 400;" aria-level="1">how to determine if a token is decentralized</li> <li style="font-weight: 400;" aria-level="1">whether proof of stake consensus turns tokens into securities</li> <li style="font-weight: 400;" aria-level="1">Sen. Toomey’s take on the new framework for stablecoin regulation</li> <li style="font-weight: 400;" aria-level="1">whether it is appropriate to ban algorithmic stablecoins</li> <li style="font-weight: 400;" aria-level="1">the importance to make disclosures so that regular users understand the risks of crypto</li> <li style="font-weight: 400;" aria-level="1">how the collapse of Terra and other crypto companies like Voyager and Celsius affected lawmakers’ perception of crypto</li> <li style="font-weight: 400;" aria-level="1">whether the US Treasury made a mistake with the Tornado Cash sanctions</li> <li style="font-weight: 400;" aria-level="1">what the government should take into account in regards to a central bank digital currency (CBDC)</li> <li style="font-weight: 400;" aria-level="1">why he believes the White House reports on crypto are not helpful and whether entrepreneurial talent is migrating to other countries</li> <li style="font-weight: 400;" aria-level="1">the likelihood of any of the crypto bills passing soon</li> </ul> Thank you to our sponsors!   <a href="https://1inch.io/">1inch</a> <a href= "https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021"> Crypto.com</a> <a href="https://mainnet.events/">Messari</a> Sen. Toomey <a href="https://twitter.com/SenToomey">Twitter</a>    Previous Coverage of Unchained on regulation:   <ul> <li aria-level="1"><a href= "https://unchainedpodcast.com/congressman-ro-khanna-how-to-get-more-democrats-into-web3/"> Congressman Ro Khanna: How to Get More Democrats into Web3</a></li> </ul> <ul> <li aria-level="1"><a href= "https://docs.google.com/document/d/18WgSbOLCbjgF1dHSAoV30E2Xdbbj_5k2-P-o4T89xYo/edit"> The Legal and Regulatory Fallout From Terra’s Collapse: Who Will Pay?</a></li> </ul> <ul> <li aria-level="1"><a href= "https://unchainedpodcast.com/why-the-crypto-industry-believes-sec-regulation-by-enforcement-hurts-us-consumers-ep-378/"> Why the Crypto Industry Believes SEC Regulation by Enforcement Hurts US Consumers</a></li> </ul>   SEC Views Gary Gensler’s <a href= "https://www.wsj.com/articles/ethers-new-staking-model-could-draw-sec-attention-11663266224?st=3n156n30scig3m1"> comments on PoS tokens</a> Sen. Toomey’s <a href= "https://twitter.com/SenToomey/status/1570412249365319686?s=20&t=d9dJdgvShHAJXumBNp_XkQ"> opinion</a>   White House <a href= "https://4sou9.r.a.d.sendibm1.com/mk/cl/f/1HPJZfi1KpdA0OtDlbbqmHCT4EAGEG6PkumuxJHuG1OMDyPxQWlAP9l2ut7vbg-Z2KsWv729WifVb_hm_jU8ERmNpcSsWpazHKtFPk_Niu0mbKxTclW2bG72saZGMSgGRhAPqMWWad6DMW1k6Qn6ChSFt-zEkVCmpHlJPdqdyT0iZF3Te8ypgx3k-2XL_9zk_TruoD264Q3kPkc1NC3-yBgCBYEeX5RWmFGaQ0EqZQaFhnGtoycDVERgilqdvEKfg2CSsbhvpAC6SrA6gpHfSf4M3dGt6l-GGh0TmRRicw4b4RDGqx0FMKrCs1h5i4OMHS61uKm8jqPPS-ZvpRx2kqe-RBhetoCUmEatf9G_z7yll_jqkHOJ01KH5SJ3O5ppkVWfSl-1f6PqBNo0PEn2Bk1NOTnpQQ7amDqEvLfu5gbt6A"> Reports</a>   Stablecoins <ul> <li style="font-weight: 400;" aria-level="1"><a href= "https://www.bloomberg.com/news/articles/2022-09-20/house-stablecoin-bill-would-put-two-year-ban-on-terra-like-coins?sref=m9L277rN"> Stablecoin Draft Bill</a></li> <li style="font-weight: 400;" aria-level="1">Bloomberg article: <a href= "https://www.bloomberg.com/news/articles/2022-09-15/senator-pat-toomey-still-sees-stablecoin-legislation-this-year?sref=m9L277rN"> Senator Pat Toomey Still Sees Chance of Stablecoin Legislation This Year</a></li> <li style="font-weight: 400;" aria-level="1">Sen. Toomey’s <a href= "https://www.banking.senate.gov/newsroom/minority/toomey-announces-legislation-to-create-responsible-regulatory-framework-for-stablecoins"> framework for payment stablecoins</a> that he released last spring</li> </ul>   Tornado Cash <ul> <li style="font-weight: 400;" aria-level="1"><a href= "https://home.treasury.gov/news/press-releases/jy0916#:~:text=WASHINGTON%20%E2%80%93%20Today%2C%20the%20U.S.%20Department,since%20its%20creation%20in%202019"> Treasury Press release</a> </li> <li style="font-weight: 400;" aria-level="1">Previous coverage of the Tornado Cash Sanctions on Unchained:</li> </ul> <ul> <li style="font-weight: 400;" aria-level="1"><a href= "https://unchainedpodcast.com/is-trm-labs-blocking-addresses-from-defi-protocols-ari-redbord-says-no-ep-387/"> Is TRM Labs Blocking Addresses From DeFi Protocols? Ari Redbord Says No</a> </li> <li style="font-weight: 400;" aria-level="1"><a href= "https://unchainedpodcast.com/tornado-cash-sanctioned-did-the-government-overstep-its-bounds-ep-384/"> Tornado Cash Sanctioned. Did the Government Overstep Its Bounds?</a></li> <li style="font-weight: 400;" aria-level="1"><a href= "https://unchainedpodcast.com/the-chopping-block-did-ofac-overstep-by-sanctioning-tornado-cash-ep-386/"> The Chopping Block: Did OFAC Overstep by Sanctioning Tornado Cash?</a></li> <li style="font-weight: 400;" aria-level="1"><a href= "https://unchainedpodcast.com/given-the-sanctions-on-tornado-cash-is-ethereum-censorship-resistant-ep-390/"> Given the Sanctions on Tornado Cash, Is Ethereum Censorship Resistant?</a></li> <li style="font-weight: 400;" aria-level="1"><a href= "https://unchainedpodcast.com/preston-van-loon-on-ethereums-merge-and-his-lawsuit-against-treasury-ep-394/"> Preston Van Loon on Ethereum's Merge and His Lawsuit Against Treasury</a></li> </ul>   Ian Balina <a href= "https://decrypt.co/110078/sec-charges-crypto-influencer-ian-balina-unregistered-ico-2018"> charges</a>

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Why Senator Pat Toomey Thinks SEC Chair Gary Gensler Is Wrong About Crypto - Ep. 399

Unchained