Interesting read on crypto and blockchain, particularly the last three paragraphs. We are definitely seeing a push from Blockchain Australia (et al) and some Parliamentarians (seemingly led by Andrew Bragg) for greater regulatory clarity around "virtual assets". I still feel that the precise nature of the regulatory certainty they are looking for needs greater definition but we are definitely seeing attempts from industry players to regulate their way into the mainstream. At the same time, we also seem to be witnessing a subtle shift in advocacy to de-emphasise the importance of decentralised governance as a blockchain function.
Finally, I wonder if the relative level of regulatory oversight is significant? The financial sector is subject to far more onerous regulation than anything faced by Napster, Uber or AirBNB.
Interesting read on crypto and blockchain, particularly the last three paragraphs. We are definitely seeing a push from Blockchain Australia (et al) and some Parliamentarians (seemingly led by Andrew Bragg) for greater regulatory clarity around "virtual assets". I still feel that the precise nature of the regulatory certainty they are looking for needs greater definition but we are definitely seeing attempts from industry players to regulate their way into the mainstream. At the same time, we also seem to be witnessing a subtle shift in advocacy to de-emphasise the importance of decentralised governance as a blockchain function.
Finally, I wonder if the relative level of regulatory oversight is significant? The financial sector is subject to far more onerous regulation than anything faced by Napster, Uber or AirBNB.