Rodge Cohen Discusses Bank and Cryptocurrency Regulation on Bloomberg TV

October 15, 2021

Rodge Cohen appeared on Bloomberg TV's “Balance of Power” to discuss the state of bank and cryptocurrency regulation with show host David Westin. Rodge emphasized the need to nominate a replacement for the Federal Reserve's outgoing Vice Chair for Supervision, Randal Quarles, in light of the many pressing issues awaiting regulatory action. Rodge cited urgent matters including the need to modernize the Community Reinvestment Act; the need for final capital rules under BASEL III; and the need for a regulatory approach to cryptocurrency. A regulatory approach to cryptocurrency, Rodge said, is the only approach that can ensure the safety and soundness of the financial system, protect consumers, and curtail criminal activity. “This is a problem that needs to be dealt with right now,” Rodge said. “Regulation of crypto assets is very difficult, but that should be a prod rather than an excuse.” To watch the full video, click here.