Sen. Boozman discusses the future of cryptocurrency, consumer protection

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

Boozman’s visit kicked off his annual agricultural tour, a weeklong highlight of Arkansas agricultural activity. He is the top Republican on the Senate Agriculture, Nutrition and Forestry Committee.

Boozman spoke with law professor Carol Goforth and senior executive director of the Blockchain Center of Excellence Kathryn Carlisle about the need for new tools to regulate digital goods and protect 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,” said Goforth. “It is a difficult task to balance the need for regulation and at the same time encourage technological innovation, and Digital Commodities Consumer Protection Act of 2022 can help close regulatory gaps 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 critical insights into the real-world impact of the bill. The Center is truly at the forefront of digital asset research, and several of our leading businesses are embracing the technology, positioning Arkansas as a leader in this new field and making it an ideal place to advance this discussion.”

ABOUT THE BLOCKCHAIN ​​CENTER OF EXCELLENCE

Since its founding in 2018 within the Walton College Department of Information Systems, the Blockchain Center of Excellence has made the college and the U of A an academic leader in the 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 past four years during the spring semester, the Blockchain Center for Excellence has hosted the 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 its annual symposium this fall on October 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 requires 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 offers an internationally competitive education in more than 200 academic programs. Founded in 1871, the U of A contributes more than $2.2 billion to the Arkansas economy through teaching new knowledge and skills, entrepreneurship and job development, discovery through research and creative activity, while providing training for professional disciplines. The Carnegie Foundation classifies U of A among the few American colleges and universities with the highest level of research activity. US News & World Report ranks U of A among the top public universities in the nation. See how the U of A is working 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