Educating regulators will help mitigate risks, says Figment exec
Robert Ellison noted that a regulatory framework for staking is achievable because the concept is very easy to understand. Cointelegraph's managing editor Alex Cohen interviewed Figment's staking marketing director Robert Ellison at the European Blockchain Convention (EBC) 2022. The duo discussed topics like educating regulators on blockchain and crypto, how businesses navigate uncertain regulatory landscapes and regulating staking. According to Ellision, it's very important to educate regulators in the space to mitigate the risks of them going overboard without understanding the basics.....
Related News
The Senate bill to mitigate the risks from El Salvador adopting bitcoin as legal tender has advanced in the U.S. “As El Salvador has adopted bitcoin as legal tender, it’s critical we mitigate risks to our financial system,” said one of the U.S. lawmakers who introduced the bill. Bill to Mitigate Risks From Bitcoin Being Legal Tender in El Salvador Passes Senate Committee The U.S Senate Foreign Relations Committee (SFRC) has advanced the ‘‘Accountability for Cryptocurrency in El Salvador Act’’ or ‘‘ACES Act.’’ The....
Several U.S. lawmakers have introduced a bill to mitigate the risks from El Salvador adopting bitcoin as legal tender. “El Salvador recognizing bitcoin as official currency opens the door for money laundering cartels and undermines U.S. interests,” said a U.S. senator.
US Concerned About Risks From El Salvador’s Bitcoin Law
The U.S. Senate Committee on Foreign Relations announced Wednesday that Senators Jim Risch (R-Idaho), Bob Menendez (D-N.J.), and Bill Cassidy (R-La.) have introduced a bill titled the ‘‘Accountability for....
Figment said the latest round will enable it to continue developing its blockchain staking, governance and developer tools.
Regulators in Texas are sounding the warning alarm when it comes to the use of bitcoin and other digital currencies, a report from The Columbus Dispatch indicates. The state regulators are offering now-commonplace hazards (with all the governments around the world issuing their own warnings) when it comes to the use of these digital currencies: "Digital currencies right now are very, very trendy," Joseph Rotunda, director of enforcement on the Securities Board was quoted as saying. "There's a lot of buzz about them. It's really easy to look at the benefits, the positives of digital....
The crypto industry and regulators need time to collaborate on better regulations. Jeremy Allaire, CEO and co-founder of peer-to-peer payments firm Circle, sent a letter to senior staff of the United States Department of the Treasury on Dec. 9, appealing for regulators to collaborate with the industry in adopting crypto regulations. Allaire warned U.S. regulators that some of its proposed rules pose a direct risk to the country’s competitiveness and could potentially trigger unintended consequences around crypto and blockchain-related use cases.The exec specifically referred to a new....