J.W. Verret, also known as BlockProf or the Blockchain Professor, is a Harvard-educated attorney and a professor at George Mason University. He has been actively involved in the cryptocurrency sector, both through his teaching and his work as a vocal advocate for crypto. Verret is the top honcho at Crypto Freedom Lab, a think tank dedicated to preserving freedom and privacy for crypto developers and users. He also serves as a professional legal witness for defendants accused of evading financial-tracking laws and writes as a columnist for Cointelegraph.
Verret’s interest in cryptocurrency stems from his background as a libertarian regulation/financial person. He spent 15 years fighting for libertarian ideals in Washington, D.C., but lost everything during the Dodd-Frank era. He views cryptocurrency as a freedom revolution in finance, addressing issues in the financial system that government regulation fails to address. Crypto eliminates the need for intermediaries and offers solutions that traditional finance cannot provide.
As a former member of the SEC’s Investor Advisory Committee, Verret has had firsthand experience with the regulatory side of the cryptocurrency industry. He has been critical of SEC Chairman Gary Gensler, believing that he has been trying to destroy the industry and has sued reputable actors in crypto while ignoring the worst offenders. Verret’s dissenting opinions and criticisms of Gensler have made him unlikely to be invited back to the SEC under the current chairman.
Verret is a vocal proponent of Zcash, a private cryptocurrency similar to Bitcoin. He believes that privacy is crucial for day-to-day payments and that Bitcoin lacks the necessary privacy features. He also supports Monero, another cryptocurrency with strong privacy technology. Verret sees Zcash and Monero as leading the way in privacy-focused cryptocurrencies, with no other projects coming close to their level of privacy. He is also excited about privacy-focused wallets like Samourai Wallet and Sparrow Wallet, which offer privacy for Bitcoin transactions.
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When discussing the future of crypto, Verret believes it will be defined by a combination of factors. He sees crime as a testing ground for new technology, as was the case with the internet in the 1990s. He believes that efficiency, scale, and privacy will be the driving forces behind the survival of cryptocurrencies. As governments and corporations fight against trustless and disintermediated property transfers, the need for privacy coins and protocols will only increase.
Verret’s involvement in U.S. v. Sterlingov showcases his expertise in forensic accounting and money laundering. He believes that privacy and following the money are not conflicting interests, and that privacy tools can be used optimally while still investigating financial crimes. Verret also fears the consequences of false positives in crypto tracing, as they can result in frozen assets and unjust accusations. He emphasizes the need for tracing firms to accurately represent their tracing capabilities and not overclaim their abilities.
In addition to his work in the crypto sector, Verret has a unique interest in UFOs. He avidly listens to podcasts about the history of investigations into UFOs and recommends reading J. Allen Hynek’s “The Hynek UFO Report.” While he believes that UFOs exist, he does not think they pose a threat. Verret sees them as unmanned probes sent to observe humanity’s activities rather than signs of impending doom or conspiracy.
Overall, J.W. Verret’s expertise and involvement in the cryptocurrency industry, along with his unique interests like UFOs, make him a multidimensional figure in the field. Through his teaching, advocacy, and legal work, Verret continues to contribute to the growth and development of the crypto sector.
