Sen. Boozman Discusses Future of Cryptocurrency, Consumer Safeguards

U.S. Senator John Boozman (R-Ark.) visited the U of A campus on Monday, Aug. 22, meeting with leaders in the law school and the Blockchain Center of Excellence to discuss the need to deliver consumer protection within the crypto industry.

Boozman’s visit kicked off his annual agriculture tour, a week-long highlight of Arkansas agriculture operations. He is the top Republican on the Senate Committee on Agriculture, Nutrition and Forestry.

Boozman talked with law professor Carol Goforth and the senior managing director of the Blockchain Center of Excellence Kathryn Carlisle about the need for new tools to regulate digital commodities and safeguard customers and markets.

“The Blockchain Center of Excellence and the University of Arkansas School of Law are thrilled to witness Senator Boozman’s work and leadership in the crypto space,” Goforth said. “It is a daunting task to balance the need for regulation while simultaneously encouraging technological innovation, and the Digital Commodities Consumer Protection Act of 2022 could help to plug regulatory holes without stifling business development.”

Boozman was also joined by Commodity Futures Trading Commission (CFTC) commissioners Christy Goldsmith Romero and Summer Mersinger.

“There is simply no substitute for visits like this to ensure we are making informed decisions,” Boozman said. “The Blockchain Center of Excellence and the CFTC have been important partners to my office as we worked to draft this legislation, sharing crucial insight into the real-world impacts of the bill. The center truly is on the forefront of research of digital assets and more of our leading businesses are embracing the technology, positioning Arkansas as a leader in this emerging field and making it an ideal spot to further this discussion.”

ABOUT THE BLOCKCHAIN CENTER FOR EXCELLENCE

Since its founding in 2018 within the Department of Information Systems in the Walton College, the Blockchain Center of Excellence has made the college and the U of A an academic leader in research and education of blockchain-enabled technologies and digital ecosystems. The center promotes research on blockchain’s impact and implementation to help it become a mainstream tool for businesses.

For the last four years during the spring semester, the Blockchain Center for Excellence has hosted its RZRblock Hackathon, a free, month-long competition open to students or anyone interested in learning about blockchain technology.

The Arkansas Law Review will also host it’s annual symposium this fall on Oct. 28, focusing on the regulation of cryptoassets. It is scheduled to feature a keynote address from CFTC commissioner Kristin Johnson.

Jointly sponsored by the School of Law and the Blockchain Center of Excellence, the symposium brings together national experts to discuss the evolution of regulatory responses in the crypto ecosystem. 

The symposium does require registration in advance, but the all-day event is open to the public.

About the University of Arkansas: As Arkansas’ flagship institution, the U of A provides an internationally competitive education in more than 200 academic programs. Founded in 1871, the U of A contributes more than $2.2 billion to Arkansas’ economy through the teaching of new knowledge and skills, entrepreneurship and job development, discovery through research and creative activity while also providing training for professional disciplines. The Carnegie Foundation classifies the U of A among the few U.S. colleges and universities with the highest level of research activity. U.S. News & World Report ranks the U of A among the top public universities in the nation. See how the U of A works to build a better world at Arkansas Research News. 

From L to R: Carol Goforth, Christy Goldsmith Romero, Sen. John Boozman, Summer Mersinger, Kathryn Carlisle