David Gerard’s cryptocurrency talk

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David Gerard of Attack of the Fifty Foot Blockchain fame attended a conference in Nashville last week, where he talked with senior-level American state and provincial regulators about this brave new world in which we live.

I thought this was a helpful reminder next time you get bogged down talking about the utility of someone’s chosen cryptocurrency:

My bit was my basic stuff: don’t worry about the tech, look at the financial instrument, and the people and the flows of cash.

He also offered a bit of advice:

The general lesson for innovative financial entrepreneurs is: if you rip off enough of the public, you don’t get just the SEC after you, but sixty state and provincial regulators as well. Celsius and Voyager have met that bar.

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