Blockchain regulations face long road forward – Conference Comments
BLOCKCHAIN REGULATIONS FACE LONG ROAD FORWARD – CONFERENCE COMMENTS
VSTOCK TRANSFER CEO YOEL GOLDFEDER
If you wait around for the SEC to change the regulations you’ll be on the sidelines for 10 years.
NEUFUND INVESTORS RELATIONS MANAGER ALEX MOLE
Many jurisdictions outside the US see [cryptocurrency trading] as an opportunity to catch up with the US in terms of capital markets formation.
BLOCK.ONE GENERAL COUNSEL LEE SCHNEIDER
If the regulators aren’t trying to learn from each other then I think that’s going to make it very much tougher for blockchain implementations to really, truly be decentralized and global in nature.
PAREDES STRATEGICS FOUNDER TROY PAREDES
It’s worth noting that even if jurisdictions have the same standards the life that those standards or rules will be given will be very different because the enforcement mechanisms are going to be different…so even if the words look similar they’re going to play out in very different ways, and that will challenge whether harmonization has been achieved.
The question of whether you can be a security one day and not a security down the road…that’s something the [SEC] hasn’t had to focus on ever. This is a brand-new kind of conceptual question but it’s also stemming from the new tech that’s something the regulator is going to want to be very judicious about in terms of thinking that through.
CIRCLE CEO JEREMY ALLAIRE
We’re working with regulators including the US and there’s a real openness…they want to get this right. There’s a lot of work companies need to do. We will get there and through to the other side.
WEILD & CO CEO AND FORMER NASDAQ VICE CHAIRMAN DAVID WEILD
[SEC Chair Jay Clayton] has a level of granular knowledge of capital formation we have never enjoyed before at the SEC so I think, I hope, he’ll become a very important leader at this particularly sensitive time.
SECURITY TOKEN ACADEMY CEO AUBREY CHERNICK
Countries don’t want to miss out…so they are on a regulatory journey.
Comments were made at the Security Token Academy Industry Launch in New York City