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Cryptocurrencies are Here to Stay: What are the Challenges ahead?

Fans of the National Football League, which just began its regular season this month, heard a lot about cryptocurrencies while watching the 2022 Super Bowl—or “Crypto Bowl” as some called it. But what is cryptocurrency and why should policymakers care?

In August, the Bipartisan Policy Center and Humanity Forward teamed up to host a virtual event about the opportunities and challenges associated with this financial innovation and its underlying technology—blockchain.

The conversation, moderated by BPC’s John Soroushian, senior associate director for Business and Technology, touched on a range of topics and featured insights from experts in the field.

Panelists spoke about opportunities created by cryptocurrencies related to lowering the cost of remittances, financial inclusion, economic growth, and the associated services that could be provided by a central bank digital currency (CBDC).

They also acknowledged some of the challenges facing the industry and its governance, including domestic and international regulation and consumer protection. To learn more about crypto and blockchain basics, issues, and applications, check out our infographic.

Below are some highlights from the panel, which included:

  • Paolo Mastrangelo
    Head of Policy and Government Affairs, Humanity Forward
  • Brett Quick
    Head of Government Affairs, North America, Crypto Council for Innovation
  • Joshua Gans
    Jeffrey Skoll Chair in Technical Innovation and Entrepreneurship, Rotman School of Management, University of Toronto
  • Julia Smearman
    Director of International Markets, Department of Treasury
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