Hermine Wong explores the potential approval of a spot Bitcoin ETF, emphasizing that it could have short-term market fervor but may not necessarily lead to significant long-term adoption of Bitcoin.
This episode is sponsored by Cboe Digital
In this week’s installment of “Money Reimagined,” host Michael Casey discusses the anticipation surrounding the approval of a spot Bitcoin ETF. Casey is joined by Hermine Wong, Founder of herminewong.xyz and Principal at Berkeley School of Law,
a regulatory expert offering insights on the topic. They explore the potential impact of ETF approval or disapproval on the relationship between the crypto industry and Washington. They also discuss the regulatory frameworks in Asia and Europe and the need for the US to catch up. The conversation delves into the importance of driving adoption and the challenges faced by disruptive tech in engaging with policymakers. They also touch on the opportunities for adoption through tokenization and NFTs.
Takeaways:
The entry of institutional investors into the crypto space indicates their belief in the long-term value of Bitcoin, but it may dilute the policy argument for the democratization of access.
The US regulatory framework for crypto lags behind other jurisdictions, but many startups still prefer to domicile themselves in the US due to the flow of value and customer base.
Crypto industry advocacy should focus on demonstrating the value of crypto in terms of access and opportunity, rather than taking an adversarial approach with regulators.
Tokenization and NFTs present opportunities for driving adoption by accessing new populations and empowering artists and creators.
Links |
If a Bitcoin ETF Is Approved, Here’s What May Happen
Bitcoin ETF Looks Very Likely Given These Bureaucratic SEC Steps
Bitcoin ETF Approval Expected Soon, Bears Lose $100M
BTC Blasts Past $47K as Bitcoin ETF Excitement Gets Feverish
From our sponsors:
Do you have a trusted partner for your crypto trading? Cboe Digital will introduce financially settled margin futures on Bitcoin and Ether January 11th, 2024 with physically delivered contracts to follow. Listed and cleared on Cboe’s U.S. regulated exchange and clearinghouse, and complemented by a liquid crypto spot market for greater ease and access. We invite you to learn more about this and all applicable risk disclosures at cboedigital.com/coindesk.
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Money Reimagined has been produced and edited by senior producer Michele Musso and our executive producer is Jared Schwartz. Our theme song is “The News Tonight ” by Shimmer.
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