Financial History 139 (Fall 2021) - Page 7


MoAF Presents Virtual Panel Discussion on the Cryptocurrencies Market

By Mindy Ross , Director of External Relations
On Thursday , September 30 , the Museum brought together leaders in the cryptocurrencies market to discuss the current state and the future of cryptocurrencies as a major factor in financial markets .
The evening began with welcome remarks from Museum President & CEO David Cowen followed by an introduction to the program and panelists by Protiviti Managing Director , Americas Financial Services Leader , Michael Brauneis . The program featured a panel discussion moderated by Camila Russo , Founder of The Defiant , thought leader , author and journalist . The featured panelists were : Brian Brooks , Former Comptroller of the Currency ; Charles Cascarilla , CEO and Co- Founder , Paxos ; J . Christopher Giancarlo , Senior Counsel , Willkie Farr & Gallagher and Former Chairman , US Commodity Futures Trading Commission ; and Jan van Eck , CEO , VanEck .
The panelists emphasized their shared view that crypto will become mainstream and compared the issues and acceptance hurdles to the early days of the internet . They discussed the biggest risks to the crypto market : regulatory uncertainty and the resultant lack of clarity ; and overregulation , citing China as an example of constraining government regulation . They emphasized the delicate balance in the role of government regulation between suppressing innovation and managing the risks inherent in the crypto market .
There was extensive conversation on the role of crypto in furthering decentralized finance , blockchain and digital ledgers and , ultimately , the democratization of finance . The outlook for expanding crypto in the investment arena and uncertainties surrounding taxing cryptocurrency transactions led to extensive conversation and many questions from the audience of more
Participants in “ The Cryptocurrencies Market : Where Is It Headed ?” program included ( clockwise from top left ): Michael Brauneis , Camilla Russo ( moderator ), Brian Brooks , Charles Cascarilla , J . Christopher Giancarlo and Jan Van Eck .
than 500 guests . Sponsors for the program were Protiviti Global Consulting , along with VanEck , and the video can be viewed on the Museum ’ s website at www . moaf . org / crypto-program .
This program was built upon two previous events the Museum held on this important topic . In 2015 , “ Bitcoin and the Future of Payments Technology ” featured one of the panelists from the current program , Charles Cascarilla , along with Lawrence Summers . The Museum famously gave each attendee a $ 5 fractional share of bitcoin through panelist Jeremy Allaire ’ s company , Circle . In 2018 , the Museum held “ The Blockchain and The Future of Everything ,” with the moderators from the previous program , Michael Casey and Paul Vigna , and featured the Winklevoss brothers and Joe Lubin .
Given the strong interest in this topic among the Museum ’ s members and followers , as well as the ongoing critical events in the cryptocurrencies market , the Museum expects to revisit this important financial revolution in the near future .
www . MoAF . org | Fall 2021 | FINANCIAL HISTORY 5