Congressional Deadline for NAFTA Deal Passes

According to US Trade Representative, Robert Lighthizer,countries involved in the talks are “nowhere near close to a deal.”  And this is a (potentially) big problem.  The New York Times reports that to get “an agreement approved by the current, Republican-controlled … Continue Reading

WTO is “Busier” than Ever–Because Cases are Longer, and Follow-On Cases on the Rise

Conventional wisdom has it that, in recent years, the legalized mechanism of dispute settlement before the World Trade Organization (WTO) has been “busier than ever”, “a victim of its own success”. A new CTEI Working Paper by JIEL’s Co-Editor in … Continue Reading

Bitcoin price falls–during New York’s Consensus conference

According to recent reports, and see accompanying graph above, Bitcoin is trading for just over $8,500– a near $300 drop from yesterday’s price of $8,800. The performance appears to refute recent suggestions that the cryptocurrency always surges during the annual … Continue Reading

NAFTA Deal Facing Tight (and Increasingly Unlikely) Deadline

“After this week, any deal announced to Congress won’t be guaranteed a vote before the next Congress takes office in January.” The WSJ story is here.  One of the more eye-catching lines of the story: “During the Nafta talks, Canadian … Continue Reading

Baird and Hoenig take aim at rules designed to lower bank capital requirements

Two of the nation’s most high profile former regulators have plenty to say about efforts to weaken bank capital rules.  Specifically, they write in a recent Wall Street Journal op-ed: The idea that lowering bank capital requirements boosts lending is … Continue Reading

My comment Letter on a new (optional) stock exchange listing category for long-term investment

I recently authored a letter on the creation of a new optional listing category, designed to enable more long-term investing.  The other letters in support are here.   Brent J. Fields Secretary U.S. Securities and Exchange Commission 100 F Street, … Continue Reading

St. Louis Fed implies that Bitcoin and the U.S. Dollar are…Similar?

A new blog post has appeared on the St. Louis Fed website, with the not so subtle title:  Three Ways Bitcoin Is Like Regular Currency.  You can go to the website to read the entire analysis, but I’ll focus on … Continue Reading

“Use case” frameworks for regulating cryptocurrencies would still involve (ad hoc) applications of law

One of the popular refrains in policy circles I’ve been hearing lately is that in the future, regulatory approaches for cryptocurrencies ought to focus on the “use case” of the cryptocurrency when developing (and imposing) rules.  Interestingly, in often the … Continue Reading

Looking forward to emerging technologies panel for Women In Derivatives (WIND) Conference

I’ll be speaking on a great panel on the future of emerging technologies on derivatives at a June WIND conference, hosted by WilmerHale.  Details below. Transforming Finance:  The Impact of Emerging Technologies Tuesday, June 12, 2018 5:00pm – 8:00pm   … Continue Reading

I talked to global regulators today about Crypto-assets and blockchain. My lesson was pretty simple.

I briefed global regulators today on crypto assets at the Third Annual Consumer Payments and Finance Academy.  My lesson: in the U.S., even “unregulated” (i.e. non-securities) tokens are invariably subject to some form of regulation (however unevenly enforced).   This … Continue Reading