As SEC Works on Regulating Cryptocurrency, Marco Santori Announces “Fireside Chat” With Member of US Department of Treasury
Marco Santori is the president and Chief Legal Officer of Blockchain, which has been his role with the platform for the better part of a year. On October 15th, he took to Twitter to announce an upcoming meeting he is having that could make some big changes in the cryptocurrency industry.
The series of tweets said,
“I am delighted to announce that I’ll be doing a fireside chat with the General Counsel of the US Department of the Treasury @Money2020 in Las Vegas. It’s kind of a Big Deal. Treasury is the US Federal Department that has final say on who is a money transmitter in crypto, what constitutes a sanctions violation for crypto transactions – all kinds of important stuff that entrepreneurs need to know.”
He goes on to talk about how FinCen and OFAC are two bureaus that are directly tied into the Treasury, and there are a lot of “unanswered questions” that have arisen as technology has advanced. Now, Santori will have the chance to speak with the General Counsel during an interview, which is planned to be hosted by Tanaya Macheel, a popular reporter in the fintech and cryptocurrency industries.
So far, she has not posted abut this upcoming discussion, but whole interaction will happen at Money20/20, which goes from October 21st to 24th.
The posts from Santori also contain a request to other Twitter users that they post questions that they want to have answered as well. This is a great opportunity to dive deeper into the regulators and what they needed. The post is still new, so there are not many comments from the community, but it’s hard to say how much interest there will be. The first reply, which is from the Crypto Dinner Club for Whales & Guppies, said,
“Now that sounds like a fun one to sleep through…I mean sit through.”
The fact alone that someone is sitting down with a major executive in the cryptocurrency industry is a big deal. Most of the interactions with government entities have been at hearings, giving them the upper hand. However, the option to finally have this kind of discussion at a major financial conference makes the playing ground more even.
What kind of questions would you want to have answered by the General Counsel of the US Treasury?