The debate over crypto regulation is heating up around the world. Sector players do not hesitate to make suggestions to legislators, so that they can develop a framework that benefits everyone.
Lawmakers Must Appreciate the Freedom Cryptos Offer
In his latest YouTube live, Charles Hoskinson, co-founder of the Cardano blockchain, urged governments around the world to consider the freedom that cryptos can bring to users, in their efforts to regulate the sector. For him, this is an important, even vital element for the future of the sector.
“We need a regulatory regime that recognizes the existence of cryptos, sees them as positive things, and appreciates the freedom they give people. So now is the time to find a way to bring all of these parameters together and create something that we can all live with, thrive on, and innovate with now.”does he have declared.
“We must not dream! »
On Twitter, some users say they are unsure whether the regulations can actually serve the interests of crypto enthusiasts. For them, governments have no interest in this, given that cryptos threaten the existence of fiat money.
They indicate that governments will necessarily want to pull the sheet from their side by crafting regulatory frameworks that allow them to continue to exercise the same prerogative of control they have over fiat money. They will seek, they continue, to deploy a system that will strip cryptos of all their original characteristics such as freedom. A posture that recalls the declaration of Christine Lagarde, President of the European Central Bank (ECB) in which she strongly opposes the creation of a new financial system which excludes central banks and public authorities.
“We represent bankers, we have operated on a monetary anchor in relation to commercial banks and private money. If we are not in the new configuration, if we are not involved, we risk losing this anchoring role that we have played for many decades”has she let it be known.
The march towards regulation of the crypto sector has begun. Two key jurisdictions are rapidly evolving in this context: the United States and the European Union. Charles Hoskinson, suggested elements for governments to consider in developing a framework beneficial to all economic actors. Freedom is one of the most important, according to him. However, many purists believe that the upcoming laws will not help the sector grow. They believe that they will strip cryptos of their original characteristics, including freedom.
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