Pat Toomey, U.S. Senator for Pennsylvania, talks about legislation in the crypto industry, how to determine if something is a security, the future of CBDCs, and much more. 

Show highlights:

  • the structural differences between crypto tokens and securities
  • why Sen. Toomey is demanding crypto legislation
  • why “regulation by enforcement” does not provide clarity
  • how to determine if a token is decentralized
  • whether proof of stake consensus turns tokens into securities
  • Sen. Toomey’s take on the new framework for stablecoin regulation
  • whether it is appropriate to ban algorithmic stablecoins
  • the importance of making disclosures so that regular users understand the risks of crypto
  • how the collapse of Terra and other crypto companies like Voyager and Celsius affected lawmakers’ perception of crypto
  • whether the US Treasury made a mistake with the Tornado Cash sanctions
  • what the government should take into account in regards to a central bank digital currency (CBDC)
  • why he believes the White House reports on crypto are not helpful and whether entrepreneurial talent is migrating to other countries
  • the likelihood of any of the crypto bills passing soon

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1inch Messari

Sen. Toomey


Previous Coverage of Unchained on regulation:

SEC Views

Gary Gensler’s comments on PoS tokens

Sen. Toomey’s opinion

White House Reports


Tornado Cash

Ian Balina charges