Before embracing cryptocurrencies or overstating their potential, policymakers should first clarify the problems they are trying to solve, and more importantly, why they are trying to solve them. When it comes to crypto and financial inclusion, there are fluctuating and contested terms and narratives. Thus, it may be difficult to discern what groups, problems, or pain points we are striving to address.
When examined closely, crypto’s current capabilities do not match the needs of the groups it purports to serve, and it carries a host of risks and drawbacks that undermine its benefits. More alarming, we can observe parallels between crypto and other predatory products, which highlights crypto’s potential to exacerbate unequal financial services to historically excluded groups.
‘Enforcement 40’ for 2020
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedIn