Ex Wall Street executive Caitlin Long has provided
written testimony for today’s
Senate hearings about Facebook’s project Libra. Long warns that blocking cryptocurrency will push the activity and innovations offshore. Rather than fighting the changes, they should be embraced. She rightly points out that stablecoins were invented because banks made it so hard for cryptocurrency investors to use the banking system.
Long is a 22 year Wall Street veteran who was with Morgan Stanley until 2016. And also a Bitcoin evangelist. While the latter has the potential to add bias, she has written some very insightful pieces on banking and blockchain. Hence she was asked for her testimony which has been published in
Forbes.
Doesn’t pull any punches on regulation and banking
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