Opinion: Rethinking US Crypto Regulation for Greater Innovation
Monday, 28 October 2024, 20:33
The Call for a Hard Fork in US Crypto Regulation
In the current landscape, US crypto regulation faces significant challenges. Experts like Mike Selig point out that the SEC’s existing framework lacks provisions that foster innovation. By implementing straightforward changes, the regulatory environment can be more conducive to technological advancements.
Proposed Modifications to the SEC Framework
- Streamlining Asset Class Definitions: Clear classifications can pave the way for targeted regulations.
- Enhancing Custody Rules: Revised custody protocols can bolster trust in digital assets.
- Facilitating Staking Mechanisms: Improved regulations around staking can encourage broader participation.
Benefits of Reforming Crypto Regulation
By embracing these changes, the regulatory body can stimulate innovation in the sector. Without needing new legislation, a hard fork in the regulatory approach could be beneficial.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.