Legislating Crypto's Future

Litigation attorney Andrew Balthazor, who co-leads Holland & Knight's Crypto Asset Dispute Team, was featured on an episode of PYMNTS' From the Block podcast exploring the crypto regulatory landscape and analyzing legislative initiatives in crypto governance. Mr. Balthazor talked about the effects of a lack of guardrails such as remedies and accountability measures that exist in the traditional financial services sector, sharing stories he's heard from victims of crypto scams who have little recourse to recover lost assets. He also addressed the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act), a federal law that applies to payment stablecoins; he explained that most of the crypto currently in use falls outside the law's scope and called for Congress to engage in meaningful dialogue with all stakeholders – issuers, intermediaries, banks, consumers, etc. – to craft legislation that protects users without stifling innovation. Overall, the conversation dove into some of the more nuanced issues facing the industry as it continues to develop, find a narrative and determine a path forward for regulation and enforcement.

Duration: 28:17