Thousand this year alone. I promised you a little cloak and dagger but let me set it up for you last year u. S. President donald trump famously said and i quote nobody knew health care was so complex well a lot of people that health care is complex and that may be one of the reasons why print the president has not repealed and replaced the Affordable Care act obamacare as he had sought but in fairness we live in an increasingly complex world for example the law that established our us Banking System in eight hundred sixty four was only twenty nine pages ill be speaking about the Federal Reserve in a few minutes and the Federal Reserve act of one nine hundred thirteen the entire thing was only thirty two pages but the wall street reform and Consumer Protection act of two thousand and ten commonly known as dodd frank a law i worked on in the wake of the financial collapse is eight hundred forty eight pages long and there are close to four hundred regulations related to that various agenc
Committee met to discuss Virtual Currency, the Commodity Futures Trading Commission discussed the oversight and regulatory actions thus far. This is just under two hours. The committee will come to order. This morning we will receive testimony from sec chairman jay clayton, and cftc chairman Chris Giancarlo on the current world of the oversight conducted by their two agencies. Welcome, gentlemen. Virtual currencies are meant to act as a type of money that can be traded on online exchanges for conventional currencies such as dollars. We are used to purchased goods or services predominantly online. Additionally, developers and businesses and individuals are selling virtual coins or tokens through initial coin offerings also known as icos to raise capital. Over the last year, Many Americans have become increasingly interested in Virtual Currencies especially givenet meteoric rise in valuation and recent fall of bitcoin. Just for perspective in january 2 of last year, bitcoin broke the 1,0
[applause] conference about identity com. Rosenworcel good afternoon. Thank you to everyone for being here today. You got me somewhere between senator and the Deputy Attorney general. So its a treat to be back at the state of the net conference and a special thank you to the Internet Education Foundation for having me and thank you for the good work you do to foster conversation about internet policy. Upfront i think i need a disclaimer. As a commissioner at the fcc speaking at the state of the net Conference Im going to defy some expectations today. Im not going to talk about Net Neutrality. I support Net Neutrality and i voted against last months this is an to last months decision to roll back those rules and i made a ruckus and there is no shortage of place where you can read my heated and sometimes fiery take on what happened. But today instead of talking about the substance of Net Neutrality i want to use it as a launching pad and i want to go big and discuss policymaking in the i
Upfront i think i need a disclaimer. As a commissioner at the fcc speaking at the state of the net Conference Im going to defy some expectations today. Im not going to talk about Net Neutrality. I support Net Neutrality and i voted against last months this is an to last months decision to roll back those rules and i made a ruckus and there is no shortage of place where you can read my heated and sometimes fiery take on what happened. But today instead of talking about the substance of Net Neutrality i want to use it as a launching pad and i want to go big and discuss policymaking in the internet era. I want to talk about some shortcomings in our Civic Infrastructure because i think we need to make real changes if we want to give the public a fair shot at getting through to those who make decisions in washington. Yeah that is lofty stuff so let me start small. Let me start with three quick stories about three individuals. First story. Ketchikan is the largest city in southern alaska and
[applause] com. Rosenworcel good afternoon. Thank you to everyone for being here today. You got me somewhere between senator and the Deputy Attorney general. So its a treat to be back at the state of the net conference and a special thank you to the Internet Education Foundation for having me and thank you for the good work you do to foster conversation about internet policy. Upfront i think i need a disclaimer. As a commissioner at the fcc speaking at the state of the net Conference Im going to defy some expectations today. Im not going to talk about Net Neutrality. I support Net Neutrality and i voted against last months decision to roll back those rules and i made a ruckus and there is no shortage of place where you can read my heated and sometimes fiery take on what happened. But today instead of talking about the substance of Net Neutrality i want to use it as a launching pad and i want to go big and discuss policymaking in the internet era. I want to talk about some shortcomings