On this episode of Bracewell Sidebar, Anne Termine, a former chief attorney at the US Commodity Futures Trading Commission, joins hosts Matthew Nielsen and Phil Bezanson to talk about cryptocurrency.

In the first part of this two-part episode, Anne provides insight on understanding how cryptocurrencies are created, how they function and what they mean for financial market participants.

Anne joined the firm in June 2021, with over 20 years of experience representing clients in investigations, enforcement actions, and litigation involving commodities, derivatives and more recently, cryptocurrency markets.

What is cryptocurrency?

The question isn’t so much what is cryptocurrency but how cryptocurrency came to be. This is based on the concept of the Internet 3.0, or the decentralization of information. The development of the Internet allowed us to connect with each other in wide and varied ways, but it eventually became centralized by large players. What was supposed to be decentralized access for the world, became privatized. Data is being handled, controlled by a few big players, rather than being freely
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