CryptoDad: The Fight for the Future of Money

Derivatives are tools that transfer risk among willing participants. They allow an individual or institution with risk they don't like or cannot bear to transfer that risk to someone who's capable of bearing it in return for some payment.

this way, derivatives serve the needs of society to help moderate price and supply to free up capital for economic growth, job creation, and prosperity.

urged the CFTC and other US market regulators to follow five principles when regulating digital markets: embrace innovation, protect intellectual property, repurpose old rules for an emerging digital age, unburden the economy for growth, and champion US markets.

The CFTC operates under the statutory framework of the Commodity Exchange Act (CEA),2 a law that was originally passed in 1936 but has been amended several times since.

It passed through that intersection of law, markets, and technology that consistently remained the course of my career.

Many restaurants use the “Delmonico's” name. The original and, I believe, the best is at 56 Beaver Street in lower Manhattan

It struck me as an instance of regulatory empire building—a classic Washington maneuver: recognize a new innovation in order to force ever more businesses into the regulatory framework.

There is a connection between singularly focused federal regulation and having the world's most competitive derivatives markets.

Derivatives: A Story of Financial and Environmental Innovation