Decentralization is Key for Car Innovation to Drive Regulatory Efforts
There is a lot of talk going on these days regarding regulation and policy making in the world of the sharing economy. Many of the services being launched will require existing legal frameworks to be revised and upgraded. However, are these types of innovation enough to drive regulatory policy making, or is there an adverse effect? Our current form of....
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The United States' Financial Crimes Enforcement Network (FinCEN) has announced it is working to investigate a string of digital currency businesses, assessing whether they meet financial regulations for the sector. Announcing the bureau's latest activity was director Jennifer Calvery, speaking at the West Coast AML (Anti Money Laundering) Forum in San Francisco May 6. The three-day event is a chance for federal and state regulators to meet with the government's investigative agencies and other qualified consultants. “Working closely with our delegated BSA examiners at the Internal Revenue....
Nigeria’s government is looking to drive blockchain adoption as part of its plans to establish emerging technology centers across the country. Speaking during Wednesday’s annual Digital Africa Conference, Isa Pantami, Nigeria’s Minister of Communications and Digital Economy, identified blockchain as part of the government’s focus on emerging technologies, according to a report by Voice of Nigeria.Highlighting the conference theme — “Building a New Africa with AI and Blockchain” — Pantami stated that the government was working toward establishing innovation centers.According to Pantami,....
FTX CEO Sam Bankman-Fried expects governments to have a clearer stance in the next three to five years and wishes to become a part of the discussions with the regulators “to build out this regime.” Running a successful crypto business requires close attention to the cloud of regulatory changes put forth by governments. Sam Bankman-Fried, CEO of prominent crypto exchange FTX, featured in a CNBC International interview to discuss his efforts on this front. During the conversation, Bankman-Fried highlighted FTX’s efforts to stay on top of the changing regulatory landscape. As a part of this....
Since the earliest days of bitcoin, decentralization has been key to its value proposition. But it's also been its greatest obstacle. Whether it's the block size debate, or the ethereum classic debacle more broadly, decentralization in public blockchain networks presents significant hurdles to what can seem like straightforward objectives. After seven years of open-source study, decentralized governance remains a little explored and unsolved enigma. But solving it will likely mean going back to the beginning, asking what exactly we mean by 'decentralization'. Do we mean the distribution of....
U.S. Senator Mike Lee has raised concerns that adopting the crypto tax provision in the $1.2 trillion infrastructure bill will stifle innovation and make Americans poorer. He explained that cryptocurrencies are not like securities and cannot be regulated with the same policies, noting that to do so would drive innovation offshore. Senator Mike Lee Warns Passing Unproven Legislation Will Stifle Innovation While outlining concerns he has about numerous provisions in the $1.2 trillion infrastructure bill during the Senate session Saturday, U.S. Senator Mike Lee from Utah drew attention to the....