Note on Money Stuff: Big Firms Want Normal Crypto Markets via Matt Levine

This, from last week, is one of the best stories you’ll ever read about how regulation works:

Congress passed legislation intended to make life better for people allergic to sesame seeds. Instead, it made things worse.

The bill, passed with overwhelming bipartisan support and signed into law by President Biden in 2021, requires manufacturers to label sesame on their products starting this year.

In response, some companies began adding sesame to products that hadn’t included it in the past—saying it was safer to add sesame and label it, rather than certify they had eliminated all traces of it.

People with sesame allergies say the result is fewer sesame-free food options, as well as new and unexpected risks from sesame in foods they used to eat without worry.

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FROM:

Matt Levine

Money Stuff: Big Firms Want Normal Crypto Markets