We Must Stop Treating "Crypto" As One Market
Congress is beginning to address cryptocurrency regulation. However, there is a significant issue with treating the entire crypto market as a single entity. Different categories of cryptocurrency serve distinct economic functions, which policymakers need to recognize.
- ▪Congress is moving toward regulating cryptocurrency.
- ▪Policymakers often view crypto as a homogeneous market.
- ▪Cryptocurrency includes speculative assets, stablecoins, and payment systems.
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Congress is finally moving toward cryptocurrency regulation. The problem is that policymakers still largely treat crypto as one homogeneous market. Economically, cryptocurrency consists of several fundamentally different categories, including speculative assets, stablecoins, and payment infrastructure systems. Some digital assets function primarily as high-risk speculative investments. Others function more like tokenized cash or settlement infrastructure designed to lower transaction costs and speed up payments. Read Full Article »
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