Blockchain Association: FTX was an “old-fashioned” crime

2023-1-4 15:37

Regulation can make consumers more comfortable using cryptocurrency  The sector needs more regulation on stablecoins and spot markets Crimes like FTX (fraud) don’t need to be addressed by modern policy

Proper crypto regulation could attract more consumers, says Kristin Smith of the Blockchain Association, an entity that advocates for peer-to-peer technology that puts power in the hands of consumers and creators.  

Smith talked to CNBC’s Squawk Box Asia about how regulation can make consumers more comfortable using cryptocurrency and can also attract institutions to the industry.

What will the new regime look like? 

According to Smith, the collapse of FTX drew attention to the state of the market and how to prevent similar things from happening in the future. She says there were three separate congressional hearings on this subject, but lawmakers walked away with more questions than answers. She added that the sector needs more regulation on stablecoins and spot markets.

Are more laws really needed? 

Kristin Smith doesn’t necessarily find that more laws are needed. She said:

FTX was an old fashioned crime, not something that needs to be addressed by modern policy. It does leave Congress with the challenge of figuring out what the gaps are that need to be filled. 

The downsides of regulation

CNBC’s host asked whether regulation would take away from the attraction of the crypto market. After all, some of its biggest advantages are associated with privacy and freedom, which regulation can compromise, ultimately making crypto less attractive. Smith responded: 

The devil’s in the details. If you look at international markets, you’ll see KYC is usually required. Once you’re in a crypto network, you’re part of the ecosystem, all transactions are recorded on the blockchain. Most transactions are transparent. Regulators are trying to find the right balance. If regulation was done correctly, it would bring more consumers to the crypto space.

The post Blockchain Association: FTX was an “old-fashioned” crime appeared first on CoinJournal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

FintruX Network (FTX) на Currencies.ru

$ 0.0007462 (+2.01%)
Объем 24H $73
Изменеия 24h: 3.78 %, 7d: 5.93 %
Cегодня L: $0.0007462 - H: $0.0007462
Капитализация $0 Rank 7418
Цена в час новости $ 0.0025809 (-71.09%)

regulation blockchain ftx association old-fashioned consumers crime

regulation blockchain → Результатов: 126


Фото:

Yu Bao on the Blockchain Economy: Centralized Regulation in Conflict with “New Ecosystem”

China’s bustling blockchain efforts and the future of its digital economy were up for discussion in an interview with Yu Bao, conducted by SupChina, April 25, 2019. Bao is a prominent blockchain/crypto advocate with a huge tech background, he is also the founder of TokenMind, Blockchain 20 Forum, as well as innovation and investment center,Read MoreRead More.

2019-4-27 09:00


Austrian Digital Affairs Minister Doesn’t See the Need for Country’s Use of Blockchain in Regulation

Margarete Schramboeck, the Austrian Minister of Digital and Economic Affairs, has recently affirmed that the country does not need any kind of regulation for the blockchain. She talked about the subject in the ANON Blockchain Summit, in which she participated in the “the role of the government in the age of the blockchain” panel. The […]

2019-4-3 04:47


Hong Kong: ICO & STO Only For The Rich Investors With At Least $1M In Portfolio – The Type Of Regulation Crypto Really Needs?

Recently, China’s Beijing Finance Industry Association released a notice saying that all individuals and banks must stop engaging in… The post Hong Kong: ICO & STO Only For The Rich Investors With At Least $1M In Portfolio – The Type Of Regulation Crypto Really Needs? appeared first on Invest In Blockchain.

2019-4-1 10:37


Фото:

Op Ed: With Bitcoin, Anarchy Is the Point, Not the Problem

Last week, there was a panel at SXSW that was effectively a debate on the merits of permissioned blockchains versus permissionless systems like Bitcoin. I listened to the entire audio of the panel discussion, after Programming Bitcoin author Jimmy Song tweeted it out the other day, and I thought he did an awesome job of pointing out the key value proposition of Bitcoin and why it is not worth comparing to permissioned systems.

2019-3-23 17:29


Ontology to Attend TOKEN 2049 During Asia Crypto Week, The Top Cryptocurrency Events Happening in The First Half Of 2019

Asia Crypto Week is a week of various independently organized educational and developer-focused events that aim to nurture mass adoption by providing first-hand information about the industry. Blockchain enthusiasts and industry veterans will come to Hong Kong to share their knowledge and stories during Asia Crypto Week, providing exceptional insights into the ever-larger growing ecosystem.

2019-3-12 21:14