Hey Quirt,

I saw the question below posted on the other site:

quote:

I wonder how many levels deep you have to go under Biden before you reach the first person who has a clue about crypto [currency].

I made a guess as follows:

quote:

I am guessing four levels on the policy making side, three levels on the law enforcement side.

Policy making: POTUS, Treasury Secretary, head of some Crypto task force, some scientists/engineers on the task force who actually know crypto.

Law enforcement: POTUS, head of the Secret Service, head of some crypto crime investigative unit (who I expect is some one who has solid STEM background and understands enough about crypto currency to investigate crypto crimes)

That's just a guess on my part, I do not work anywhere close to the federal government's center of power. But I figure you are a lot closer to this stuff than I am, so I would like to see what you think about this if you don't mind sharing. Is my view on the Executive branch's crypto currency talents too optimistic?

Gensler. I guess that’s technically one layer down but pretty far removed from the WH.

And not at all involved in Biden’s exec order I’m sure. But it is the answer to the question

Gensler is one answer to the question. But the real answer at the SEC is a couple of layers below him … someone in the Division of Corporation Finance.

I will tell you that the SEC as a whole doesn’t understand crypto as well as it thinks it does.

The second answer is someone at the CFTC, I’m not sure who.

The third answer is someone at the Fed. Again, I don’t know who.

The most important answer is probably someone two layers down at the Department of the Treasury. They are working on a central bank digital currency, after all.

So three to five layers, depending on how you count agencies, is the right answer.

Thanks, I appreciate your answers!