Hamilton vs. Satoshi

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Mark Carney criticizes reliance on US dollar, suggests possibility of multilateral digital asset

Professor of Law : Georgetown University, and Director, Institute of International Economic Law

Mark Carney criticizes reliance on US dollar, suggests possibility of multilateral digital asset

Mark Carney stands pensively in dark suit while listening to woman speak at economic  symposium
Image provided by Bloomberg.com

The Bank of England's governor, Mark Carney, the Bank of England governor, has said that the world’s reliance on the US dollar “won’t hold” and needs to be replaced by a new international monetary and financial system based on many more global currencies.   Part of the solution could come from a multilateral digital currency.  The Financial Times story is here.

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Minilateralism’s Author Discusses Libra, Facebook’s Proposed Global Cryptocurrency

Professor of Law : Georgetown University, and Director, Institute of International Economic Law

Minilateralism's Author Discusses Libra, Facebook's Proposed Global Cryptocurrency

Screenshot of Facebook webpage  providing overview of cryptocurrency Libra
From Georgetown Law: Professor Chris Brummer, the faculty director of Georgetown Law's Institute of International Economic Law, testified on the Hill on July 17, raising concerns about a white paper describing Facebook's cryptocurrency Libra.

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).

The hearing can be found here.  The written testimony can be found here.  Georgetown’s coverage is here.

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Professor Brummer Delivers Talk at the Bank of England

Professor of Law : Georgetown University, and Director, Institute of International Economic Law

Professor Brummer Delivers Talk at the Bank of England

A staircase within the bank of England, where Professor Chris Brummer delivered his remarks

Minilateralism's author, Chris Brummer, delivered a talk at a conference sponsored by the Bank of England and Queen Mary's Centre for Commercial Law Studies exploring regulatory perimeter, cross-border dimension and virtual currencies.

Professor Brummer's remarks centered on the tradeoffs involved in the regulation--and deregulation--of financial innovation, and the challenges posed to international financial coordination.

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