Sam Blum at Inc. Magazine wanted to get Prof. Emmert's views about Fairshake, a SuperPac supported by crypto investors, as they are getting into the lobbying game for the 2024 elections.
Prof. Emmert explained that the involvement of a new and well-funded player does not have to be a problem for our democratic process. First, there will be monied interests in politics on all sides, whether we like it or not. Second, Fairshake has so far been supporting Democrats and Republicans who are favorable disposed to blockchain technology and digital currencies, rather than just one side of the political aisle. The goal of the SuperPac is to build bipartisan support for crypto-friendly legislation. Prof. Emmert is not worried that this could come at the expenses of consumer protection and other common interests of our society. The topic has been sufficiently explored by many regulatory and other agencies to ensure that any discussion in Congress will be diverse and take into account all aspects of the subject, not just the interests of the blockchain industry.
If Fairshake can pave the way to a one-stop federal law regulating blockchain technology and digital currencies in ways that protect us against fraud and misuse while enabling startups and established players to develop use cases from a home base in the U.S., more power to them! Such a law would finally replace the myriad of approaches taken by dozens of federal agencies, led by the SEC, as well as several dozens of state legislatures, making compliance incredibly difficult and costly at present.
For the Inc. interview click here.
For free downloads of Prof. Emmert's articles on blockchain technology and digital currencies, and how they are and should be regulated, click here.