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Blog

If You Build the Blockchain, Regulators Will Come

The hardest part of drafting any new regulation is establishing a definition. In fact, most of the policy work is in the definition and there are alarmingly few policy considerations after something is defined as a covered entity. The definition of cryptocurrency has already proved problematic for regulators. Essentially, to commodities regulators, virtual currency is a commodity. For bank regulators, it is a bank. For securities regulators, it is a security. For those who regulate money transmitters, it is a money transmitter. For the purpose of property taxes, it is a property. Everyone wants a stake in the new world of virtual currency.

07/12/2016
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Blog

Socialist Sanders Criticizes "Unregulated" Uber but Uses It on Campaign Stops

In a recent interview with Bloomberg, Sen. Bernie Sanders (I-Vt.) hinted that he has "serious problems" with Uber, the popular app-based ridesharing service, and called it "unregulated." Though it is no secret that Sanders, a self-described democratic socialist, loathes free market capitalism, his comments are strange considering that his campaign exclusively uses Uber to get around at stops on the campaign trail, according to the National Journal.

11/05/2015
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Blog

New Bill to Limit the Number of Uber Drivers in NYC

Over this Independence Day weekend, New York City Council Speaker Melissa Mark-Viverito stated that proposed legislation that would limit the number of app-based driving services (such as Uber and Lyft) was motivated purely by the need to control "traffic congestion, pollution and labor standards," not because of the falling value of taxi cab medallions. In an interview between Ms. Viverito and radio program host Brian Lehrer:

07/07/2015
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Op-ed Placement

Political Entrepreneurs Are Crowding Out the Entrepreneurs

Entrepreneurs launching "disruptive technologies" are reshaping markets across the U.S. economy, often by disintermediation and innovation. While these new products and services provide consumers more choices and better value, regulators have place increased attention on these activities, from car services such as Uber and Lyft, to those offering accommodations like Airbnb, to pop up restaurants running afoul of local health codes. In many instances, these new products emerged because innovators were one step ahead of the regulators. But as the regulatory state grows, these innovators will face new challenges from regulators.

10/24/2014