Karen Petrou: The Sobering Lesson of Subprime Mortgages for Digital-Asset Regulation
Last week, the American Banker had a synopsis of views filed on Treasury’s request for comments on digital-finance regulation. Its quote from the ABA’s comment letter is striking, indicating that this letter pointed to the increasingly-absurd reality of no rules for nonbanks and no digital assets for banks given all their rules. Progressive advocates pushed back, arguing that it’s right to keep banks quashed because of all the systemic hazards they pose.