It’s Hard to Make Rules Now
Also Paramount is back, judicial conflicts of interest, more Canna Global, more authorized share drama and more mouse jiggling.
Programming note: Money Stuff will be off tomorrow and Friday, back on Monday, and there will be no Money Stuff podcast this week. Happy Independence Day!
It might be impossible for the US Securities and Exchange Commission to write new rules for crypto? We have talked, over the years, about how the crypto industry frequently says that it wants the SEC (or the Commodity Futures Trading Commission, or Congress) to write rules regulating cryptocurrency markets, so that the industry can have regulatory clarity and get on with building the future of finance or whatever. Instead, crypto people complain, there is “regulation by enforcement”: Rather than writing clear rules saying what is allowed, the SEC just decides on a case-by-case basis what isn’t allowed, and then sues people who already did it to make them pay big fines.