Cryptocurrency regulation has become inevitable, and many people in the industry say they would welcome clearer rules.
Proponents arguethat regulatory clarity will legitimize the sector, reduce financial risks, and support product development.
Uncertainty, meanwhile, would stall market growth, stifle technical innovation, and scare off potential investors.
Naturally, they want regulation on their own terms.
Trading platform Coinbase, for instance, is currentlypreparing a draft federal frameworkfor consideration by lawmakers.
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But that doesnt mean they will create rules that the industry desires.
Kasselmanis nonetheless among those calling for permanent regulation.
Government moves slowly everywhere; they wait for a certain level of maturity.
In comparison to the EU and UK, Kasselman says regulatory progress in the US has been slow.
One of the reasons is that government agencies disagree about how to classify crypto.
Some want to treat it as a commodity, while others argue that its a security or a property.
The reality is that the industry doesnt neatly fit into any individual bucket.
The two are becomingincreasingly intertwined.And as they become more integrated, the rush to regulate crypto will only accelerate.
Lane Kasselman is speaking atTNW Conference 2021 on September 30th and October 1st.
Story byThomas Macaulay
Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he e(show all)Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he enjoys playing chess (badly) and the guitar (even worse).
