A central question is whether legislative guardrails should depend on assumptions about intent. Even if programmable money is developed with beneficial goals, should reasonable safeguards be established before it becomes part of our financial infrastructure? What protections would be prudent regardless of whether the ultimate outcome is positive or negative?

“A Legislator’s Guide to Programmable Money, Part Three” serves as a follow-up to the in-depth discussion of programmable money in the February and March briefings.