While We Wait for Laws, We Need Better Interpretations of Existing Regulation

While We Wait for Laws, We Need Better Interpretations of Existing Regulation
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When it comes to US cryptocurrency regulation, one school of thought says it’s worth waiting for Congressional action to deliver a friendlier regulatory environment, resulting in a re-energized blockchain market and underlying entrepreneurial activity.

Another viewpoint, which I share, says Congress provides no magic pill or panacea due to the long time it takes to pass new acts and bills. Instead, we need to seek modernized interpretations of current regulation, especially securities laws under the SEC’s purview.

Few New Acts Since 1933

There is little hope in seeing a new cryptocurrency or blockchain-related act emerge from the House or Senate in the next 12 months, if not longer. This is election year, so attention span is elsewhere. Also, we need to factor in the ongoing distractions on omnipresent geopolitical, economic or social agenda items within the United States and beyond. The blockchain faces all of these preceding and competing priorities.

Source: coindesk

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