Chris Brummer
@ChrisBrummerDr
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Georgetown Law Professor. CEO of Bluprynt. Fan of 90s hip hop, strong espressos, and asking questions before giving answers.
Washington, DC
Joined April 2016
I’m delighted to share I’ve been awarded an endowed chair @GeorgetownLaw as the Agnes Williams Sesquicentennial Professor of Financial Technology. (It means, among other things, that I now have a title I can’t pronounce).
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Just finished teaching high school kids out in Maryland who reached out asking me to give a lecture on Bitcoin. In a public library. On a Saturday. The room was so packed they had to send kids to watch online. This. generation. is. different.
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One of the most fun Congressional hearings I’ve been honored to participate in. Also learned a lot listening to my buddy the great @IOHK_Charles
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This is the first time the SEC has become a subject of presidential politics. I don't recall ever a presidential candidate mentioning the Chair of the SEC by name. I also don't remember a sitting President threatening preemptively to veto Congressional legislation about the SEC.
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Few people can say ‘unique opportunity’ and mean it. But the chance for a law professor to team up with the world’s leading crypto researchers and engineers can safely be described just as that. Thanks @FEhrsam @matthuang and the entire @paradigm team.
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I’m thrilled to release a white paper offering the first crypto-native disclosure system for DeFi--and a range of new infrastructures capable of exciting developers and regulators: Disclosure NFTs, Disclosure DAOs, and Disclosure DIDs.
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The @CFTC is indispensable in the conversation on the regulation of crypto exchanges. @giancarloMKTS and @CFTCquintenz are correct that it's not a partisan or ideological issue. It's just kinda how the law works.
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I have a joke about proof of work but it takes too long to finish.
I have a bitcoin joke, but it operates on many layers. You probably wouldn’t get it.
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I'm delighted @WSJ is running an Exclusive on my research today. Regulatory agencies create rules of the road for America's capitalist system. But only 10 Blacks have served since 1933. @SherrodBrown @MikeCrapo @SenSchumer @JoyAnnReid
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The US federal government could be prohibited from using Ethereum and Hyperledger when they are developing projects due to cybersecurity (NIST cryptographic standards) concerns. R3's Corda apparently met the standards.
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So I've got a new job. And I'm delighted to share the launch of my new crypto disclosure company @blupryntco. We're moving fast--to fix things. And make life easier for builders and policymakers alike. Check us out at
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I had the honor of delivering the Black History keynote for the @SEC_News today. I left it all on the field, and tried to give a talk worthy of the moment and the men and women of the agency. My sincere thanks to Acting Chair Lee for hosting the event.
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Washington DC's Fintech Week registration is up! Heads of the SEC, CFTC, FDIC, FCA, and FinCEN, 6 central bankers, 12 CEOs, Ripple’s Brad Garlinghouse and Co-Founder of Ethereum, Joe Lubin speaking. Plus Sheila Bair and Sarah Raskin. Nakamoto is TBD.
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People always ask me: “I want to do fintech law, but what should I read?”--and the options have been bleak. So I wrote an overview of crowdfunding, crypto, p2p, HFT, mobile payments, and cybersecurity rules for experts and beginners alike. Out today! Yay!
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“Is Regulation by Enforcement Legal?”. I did some digging with my coauthors @Wharton's @ZaringDavid and @vanderbiltlaw's Yesha Yadav in a big paper we're publishing with @SCalLRev. What we found was surprising.
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48 years strong today. I am blessed beyond compare with friendships and adventures to fill more than one lifetime. Lots in store for the next run around the sun.
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Coolest souvenir ever. Picture from my remarks yesterday on crypto wallets at the European Parliament.
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It’s my birthday today, and with another one in the books, I’ve got a lot to be thankful for. Thanks to all my friends out there, in person and online, for all the feedback, encouragement and support. Rock on.
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Put together a new seminar for this semester at @GeorgetownLaw: Decentralization, Finance and the Law. We'll kick the tires on the term from securities reg to antitrust to IP to decentralized identity. Today: Hayek and some Millenial named @VitalikButerin. Thread.
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This week Federal Reserve Governor Dan Tarullo and @CaitlinLong_ join me on the Fintech Beat podcast to discuss banking--and regulators' proposed capital requirements for crypto.
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It will be tough politically for any party to be anti-tech, anti-big tech, anti-small tech, anti-fintech, anti-crypto, anti-bank--and anti-finance all in one. Gotta have some kind of vision for the future if you want to be in it.
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It's the last chance to register before #DCFintechWeek's big start on Monday! Here's an expanded selection of some of our featured speakers--a week of unparalleled conversations across CBDCs, crypto, cybersecurity, AI/ML, gamification, inclusion and more.
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Five firms, all located in China, dominate Bitcoin mining operations.
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I'm looking forward to a quiet and uneventful #dcfintechweek finale tomorrow with @SEC Chair Gensler, @bgarlinghouse and Undersecretary Nellie Liang on the President's stablecoins Working Group. With #gamification #SPACs and crypto investing to boot.
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On this week's Fintech Beat podcast, I attend .@Ripple's UBRI conference in Berkeley, CA to sit down with @sendfriendinc's CEO--a former World Banker turned Blockchain entrepreneur--and talk about remittances and the role of compliance as start ups scale.
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The US dollar infrastructure is the JFK airport of global payments: creaky, slow, a little embarrassing, and in need of multiple upgrades. And yet still central to global commerce.
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#DCFintechWeek's 2021 agenda is up!--check out to register and access the full program. It's a blockbuster (free!) forum covering everything from #CBDCs and #crypto to #MDIs, gamification, #memestocks and more. Here's a preview of some names to appear.
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I'm absolutely delighted to share I'll be delivering the annual Black History Month address for #FinCEN, @USTreasury. It's always an honor to talk to our country's civil servants, and I'll offer thoughts on the national conversation on technology, risk, opportunity and inclusion.
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#Ripple’s @ryanzagone and @sagarsarbhai kick off the new with two case studies on “Pathways to Cross-Border Regulation of Crypto Asset Regulation.”
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Fintech 2020 is a wrap!! Thank you everyone!!!! I’m going to sleep now.
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Washington DC's 5th Annual Fintech Week is set for October 18-21!! And we're bringing on a new partner for the event!--the @BIS_org. We'll be tackling CBDCs, de-fi, cybersecurity, big data, AI, financial inclusion and (much) more.
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I’m so proud that every year DC Fintech Week brings so many different people together—even now in a pandemic and an election year no less!—for the simple cause of geeking out and sharing and learning from one another. Thanks so much to everyone and see you tomorrow.
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Registration for DC Fintech Week is OPEN! From remarks on Libra with Switzerland’s top regulator to a talk on the future of Mpesa with Kenya’s central bank chief, we will be hosting a world class conversation with thought leaders from around the world.
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Wonderful news. I’m delighted to announce @RepMaxineWaters @SenSherrodBrown @neelkashkari Sharon Bowen, Harold A. Black, @Aarondklein and Paul Thornell will discuss my study on the absence of Black regulators at @BrookingsEcon Sept. 2 from 3-4:15pm.
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I'll be returning to my old law firm @Cravath next week to talk about digital assets with fellow alums @sheila_warren @BandmanJeff @amico_jeffrey and @RebeccaRettig1 where we've all agreed to deliver our thoughts in six minute billing increments.
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From my earliest days in Washington, when no one knew me (or cared! ha!), Paul Atkins was nothing but a gentleman, friend, and someone every newcomer aspired to emulate--sophisticated, kind and smart. I'm delighted for him and wish him the best of luck leading the SEC.
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FinCEN's beneficial ownership rule has been struck down. Perhaps the most eye catching remark in the ruling: the compliance costs born largely by small, not big businesses.
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Thanks to the finance counselors and attaches from the 27 EU member states, @EU_Commission, and @ecb for the invitation to talk about cryptocurrencies, the future of money--and the Howey Test. There will be an open book exam on Monday. :-).
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Thanks to @BrianBrooksOCC @BCoeure @Akon @LindaLacewell Adeyemi Ajao, Yolanda Piazza @ChairmanHeath @brantcooper as they join our speakers for DC Fintech Week October 19-22 (More to come!) Join us as we bring a free world class program to the public.
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I would not be surprised if this was just the beginning.
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Got back to my office and was simply delighted to find this note from @SECGov in recognition of my work, and the Black History month keynote I delivered. Looking forward to tackling headfirst the conversation on financial inclusion, technology and securities law in '22.
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The fact that several hundred people show up at 9am on a Friday for a talk on stablecoin regulation is pretty darn cool.
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The world seems to be divided into technophobes and technophiles. But the future belongs to the technopragmatists--those who embrace the upsides of new technologies, but remain laser focused on their risks, and constantly seek to learn more in order to distinguish the two.
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With the shutdown over, I'm delighted to pitch in as the newest member of the CFTC's Virtual Currency Subcommittee. It's interesting and important work, and I look forward to dialoguing with the so many of our nation's experts on such forward-looking work.
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Got a note last night from a former student: “Thanks for being an inspiration…I promise as I go through life I will endeavor to do things that would make you proud.” . There’s no way a teacher ever really earns that kind of praise, but no better way to start a new year.
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Mr. President, let me make a suggestion for your first recipient of the Presidential Medal of Freedom. @JoeBiden.
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Thanks to @giancarloMKTS for the mention today during his remarks. The least I can do is forward people to his highly interesting testimony, found here.
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And that’s a wrap. Thanks to the army of folks who pitched in to make this year's conversations such a success. You're the best.
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Very, very few people have noticed that the White Paper for Facebook's Libra Project (as well as the Libra website) has undergone significant revisions. In this Exclusive for I track and explain the biggest changes.
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Trying to figure out the EU's new regulatory framework for stablecoins? You won't find a better guide than Peter Kerstens, the @EU_Commission point person for digital policy. And my guest this week on the Fintech Beat podcast.
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I'm delighted to share I've been asked to deliver the annual Chorley Lecture next year in London at @LSEnews, following in the steps of giants like Lani Guinier, @Vermeullarmine and @mangabeiraunger. Such a pleasure. I'll be talking about the future of money--and community.
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I look forward to joining @davidmwessel @EswarSPrasad @blythemasters and @Fennie_Wang to discuss #stablecoins and #CBDCs at the @BrookingsInst following remarks by Governor Andrew Bailey of the @bankofengland on September 3.
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Anytime you have the opportunity to talk to the Secret Service in the "Counterfeit Conference Room" you have to be pretty excited. And I am!
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Here's a link to my written statement for tomorrow's Congressional hearing on Facebook's Libra cryptocurrency, focusing on unanswered consumer-related questions--and challenges. The title: "99 Problems."
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“You either build or destroy.” . Careers, companies, communities, ideas. I choose to build.
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Many folks think Facebook should get a bank license if it moves forward with Libra. But in light of their fines, penalties, and regulatory violations I wonder how many big tech firms (not just FB) would actually pass the de novo review at the FDIC and be eligible to become a bank.
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Looking forward to participating 12/9 on the #HouseSelectCommittee roundtable on the unbanked and underbanked. I'll be emphasizing the need to think seriously about tools already available, or in development, that may be purposed (or repurposed) in ways to advance inclusion.
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A former SEC aide pinged me with one helpful precedent: when McCain and Obama together called out SEC Chairman Chris Cox in 2008. Effectively the agency now inhabits a political space not seen since the financial crisis.
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I had a wonderful (standing room!) talk with the amazing men and women from the US Secret Service on cryptocurrncies, cybercrime and the future of money. (And am loving my new swag!). Great agency. Super smart and engaged and passionate professionals. We are all safer for it.
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Hard to count how many times last week people in government and industry pinged me about this research. Hopefully it’s helpful for anyone thinking about the kinds of creative but impactful upgrades possible in the ecosystem. Time to build.
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@digitalassetbuy We support XRP and I've personally been in touch with @bgarlinghouse on cool projects in the space. Patience, Padawan.
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I’m delighted to announce Keynotes for our #Juneteenth forum on the future of inclusion: @CeciliaERouse @FDICgov's @JelenaMcW @SenSherrodBrown @MarkWarner @USOCC's Hsu @RepGregoryMeeks @RepMaxineWaters. And more! Register here to look back--and forward.
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The recordings from all four days of DC Fintech Week are now available online! We were blown away by the thousands of participants worldwide, and delighted to push the conversation well beyond the beltway, and on a global scale. Sessions can be seen here.
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I’m delighted to welcome @WTO Director General @NOIweala and @IMFNews Managing Director @KGeorgieva for a conversation on Africa’s place in the global monetary and trading systems. We'll also talk digitalization, inflation, CBDCs, supply chains and more .
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My remarks today to the great graduating class of @pennlaw's @TheRegReview:.Be Brave. Always keep your resume up to date. Never fall in love with your house. Be ready to zig and zag. The path to the top is rarely a straight line. Always keep your mind--and your eyes--open.
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Looking forward to sharing my research on diversity and financial regulation at Harvard's @Kennedy_School this afternoon, and seeing some friends and colleagues. Will shape up to be a great discussion.
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I’ll be writing a bit more in the next couple of weeks about the EU’s new crypto proposals. It’s kinda cool to see that they’ve incorporated a couple of things in their approach that I’ve suggested in my own past testimony to Congress.
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The BIS General Manager offers pointed new rationale for CBDCs: "Building central bank public goods will . [create] a level playing field. The entry of big techs into financial services makes it even more urgent to level out the playing field."
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The preliminary agenda for Washington DC’s Fintech Week, October 21-24 is up! We’ll be adding speakers, and stick here for registration details coming soon. As with last year, we will have a packed, path-breaking agenda.
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Thanks to @RSSH273 and friends @paradigm for boiling down our DAO research to one page (and making it look a lot cooler!). With the new crypto bill--and expectations that DAOs incorporate--the paper is particularly timely. @SenLummis @SenGillibrand.
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I'm looking forward to testifying on Facebook's Libra cryptocurrency before the House Financial Services Committee on Wednesday. Info on the session can be found here:
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We're reaching a weird inflection point where fintech's immediate social value might not lie in lending per se, but instead in its ability to deliver services (like swift gov't payments and new credit scoring for newly unemployed workers) analog players (including the SBA) can't.
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September 11, Lehman Brothers, COVID. It seems that Milennials and Gen-Xers like myself have been conditioned to expect societally transformational crises about every ten years. It's bound to impact our investment decisions--and views of the role of both the state and markets.
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The implications for financial regulation could be quite interesting.
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For China's FSOC, this was the definition of systemically important.
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There are many reasons to consider investing your money. This is not one.
Rookie Bitcoin investors say they’re buying the cryptocurrency to get in on the action and not feel left behind
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What I found in my mailbox today! Thanks to all the truly brilliant folks from the IMF, MIT, Davis Polk, Castle Island Ventures, Wilmer Hale, Hong Kong U, Singapore Management, St. Mary's and UNSW for all the world-class contributions!
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A new crypto-assets report by the European Parliament suggests, among other things, more regulatory scrutiny of miners may be on the table.
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This week on Fintech Beat I sit down with leading IMF experts on China’s digital yuan. Among the insights: some aspects of the pilot may have already taken place--and the project could result in a platform hosting an entire ecosystem of applications.
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Following my @BrookingsEcon paper, I'll offer new data on @JoeBiden's finreg nominations and the challenge of recruiting from US corporate law faculties, which have historically failed to hire Blacks, Native Am and Latinx profs @SenSherrodBrown @RepMaxineWaters @ewarren @gauragDC.
Opening this Tuesday, Sept. 28th, at 5:00 pm ET, with a lecture by @ChrisBrummerDr of Georgetown Law, the 2021-2022 Penn Lecture Series on Race and Regulation.
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I am delighted to share that as of last month, as a new member of @FannieMae's Board of Directors, I joined the company's Community Responsibility and Sustainability, Risk Policy and Capital, and Strategic Initiatives and Technology committees.
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Hard to express my pride hanging with my brother Commerce @DepSecGraves, cheering on my big (big!) brother @federalreserve Vice Chair @Michael_S_Barr for his ceremonial swearing in celebration today alongside history makers @drlisadcook and Philip Jefferson. I even wore a tie.
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Fintech is a sector where businesses succeed or fail on their ability to scale. Yet the ecosystem is failing to provide even minimal levels of African American representation necessary for it to do so. Some dismal data from VCs--to the federal regulators.
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I learned the value of hard work by working hard. -Margaret M. Fitzpatrick.
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The video that started it all. As we move to 70(!) episodes, my sincere thanks to all the technologists, regulators, founders and journalists from around the world who have pitched in to make the Fintech Beat podcast a success. What a journey.
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One year ago, I released data showing that only 10 of 327 financial regulators over history have been Black. Since then, the numerator has stayed the same, as the denominator has grown. @SenSherrodBrown @SenWarren @RepMaxineWaters
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China jolted global finance with its announcement that its central bank will soon launch a digital yuan. Fintech Beat sits down with key IMF experts to learn about what a state-backed ‘cryptocurrency’ means for the yuan as a potential rival to the dollar
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DCFintechweek starts today at 8:15am with @IMFNews and @BIS_org's chiefs. Also @USOCC and @FDICgov heads, @NandanNilekani, @PagoMercado's Paula Arregui @FannieMae COO, Kim Johnson, and more. IMF is streaming, as is our conference platform, and youtube:
Several thousand people checked out #Dcfintechweek programming yesterday across our conference platforms. Thanks to @IMFNews for supporting and streaming today as we kick off tackling inclusion with the IMF's Managing Director at 8:15am ET.
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It was a pleasure hosting the exit interview for @BrianQuintenz on his time @CFTC--and his views on the latest in crypto and Washington.
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