Minilateralism's Author Discusses Libra, Facebook's Proposed Global Cryptocurrency
On July 17, 2019, Georgetown Law Professor Chris Brummer — the faculty director of the Institute of International Economic Law (IIEL) and author of Minilateralism — testified before the House Financial Services Committee with respect to Libra, Facebook’s proposed cryptocurrency. The hearing was chaired by Rep. Maxine Waters (D-CA) and Ranking Member Patrick McHenry (R-NC).
Steven Maijoor, Chair of the European Securities and Markets Authority, to Talk Fintech, Cryptocurrencies and Clearinghouses
Steven Maijoor, the Chair of the European Securities and Markets Authority, will be sitting for a rare one on one interview, with Professor Chris Brummer, at Georgetown Law on June 12, 2019. During the interview, Mr. Maijoor will discuss recent and upcoming developments relating to cryptocurrency regulation, blockchain technologies, and cross-border equivalence for derivatives infrastructures. Reservations can be made here.
Basel Committee Issues New Crypto Asset Warnings
The Basel Committee on Banking Supervision (BCBS) issued a statement on “crypto-assets,” highlighting that new financial products related to crypto have the potential to increase the risks to banks who engage in digital or crypto assets. The BCBS, an informal standard setting body, was established by central bank governors to cooperate on regulatory and supervisory matters. The story is here.
EU Moves Closer to Harmonized Regulation of Cryptoassets
Two pivotal reports on European cryptoasset regulation were released today by the European Securities Markets Authority (ESMA) and the European Banking Authority (EBA), setting the stage for a process that could result in a “bespoke” regime for cryptoassets. The full story is here.