Crypto industry leaders warn Congress: Figure out regulation, or watch innovation leave the US


#1

Leaders from the cryptocurrency industry, Wall Street and venture capital firms met lawmakers in Washington Tuesday and overwhelmingly asked for more clarity around existing regulation. If companies don’t get a better idea of the legal guardrails, multiple attendees warned that innovation is bound to head overseas, draining the U.S. of potentially profitable blockchain businesses. “The competition around the world is real. But there’s still time and opportunity for the U.S. to be a leader here,” says Joyce Lai, a lawyer at blockchain software technology company Consensys.


#2

At least some people are thinking straight and warning others. I hope congress listens to them and do something about the regulation and then our country too follow them sooner or later.


#3

Not their job to protect the sheep from scams. That’s a crock. Did they protect us from the massive fraud the banks pulled when they brought down the world in 2008? Please. Banks r protected sacred cows. And we paid for their bail out. But no more. So they better get with the blockchain program or get left behind and stampeded. As far as taxes, it’s just not that difficult to figure out how much u can squeeze, now is it


#4

succesfull business will be successful without them. institutional investors is just a meme at this point, anyone can buy right now anyway. i concede the point that it will legitimize the industry but in the end, how do you actually regulate something that is trustless, global, decentralized and has 10 years head start?