Policymakers on privacy: Highlights from the DC Summit
The industry sometimes glosses over the uphill battle involved in getting crypto issues in front of lawmakers
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I’m back in New York after a quick trip to DC (just in time to watch the Yankees hopefully beat the Dodgers in Game 1 of the World Series tonight). But I digress.
I spent yesterday at the DC Privacy Summit, where there was no talk of baseball — but, unsurprisingly, a lot of policy talk.
In these final days ahead of the election, we’ve heard a lot of the same sound bites. Industry officials want to go on record saying they look forward to working with the next administration and are excited to continue engaging with policymakers. I get it; everyone has a job to do and a message to publicize, but these comments are getting repetitive.
In an effort to spice things up, here are some of my favorite and (in my opinion) most interesting quotes I heard on Thursday:
“Privacy doesn’t inherently mean the absence of data or anonymity of persons.”
Carole House, special adviser for cybersecurity and critical infrastructure policy at the White House National Security Council, said this during a keynote discussion.
House, a co-author of President Joe Biden’s 2022 crypto executive order, added that privacy relates to the balance between protecting sensitive data while maintaining “certain permissions” that allow it to be disclosed when needed.
“It takes dozens of roundtables for staff and members [of Congress] to really feel comfortable with having a hearing.”
The above quote came from Allison Behuniak, staff director for the House Subcommittee on Digital Assets, Financial Technology and Inclusion. The subcommittee has had seven or so crypto-focused hearings so far this year, which is impressive and speaks to the work happening behind the scenes.
While there has been more dialogue around crypto on the Hill recently, I think the industry sometimes glosses over the uphill battle often required to get crypto issues in front of lawmakers. With Chair Patrick McHenry retiring at the end of the session, the agenda for the next Congress is even more uncertain.
“We have to propose solutions that actually will address what policymakers are legitimately concerned about.”
Michele Korver, head of regulatory at a16z Crypto, made this comment. In what many industry leaders refer to as a “hostile regulatory environment,” it’s not often we see these types of concessions expressed.
Korver added that the industry should share some of policymakers’ concerns when it comes to privacy.
“We want our users and the technology to be successful,” she noted. “We want them to be safe and trusted and secure, and not facilitating [illicit activity].”
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