The other way, according to Brooks, is by making cryptocurrencies safer the same way they did with equities by introducing mutual funds. This allows people to invest without having any experience.
“The way to win,” he said in reference to the Babe Ruth metaphor, “is to bring more people into the system more safely, not to keep them out at their own peril.”
Congress and regulatory bodies such as the U.S. Securities and Exchange Commission have long been contemplating ways to make a policy framework for the cryptocurrency industry. The hearing addressed the benefits and detriments of digital assets. Before the hearing, the CEO of Robinhood, Daniel Gallagher, said new crypto legislation wasn’t likely on the horizon because of the current “dynamic” in Congress, though the hearing would likely be useful for SEC chief Gary Gensler.
