By Lee Bratcher, President and Founder of the Texas Blockchain Council
Coinciding with the meteoric rise of bitcoin and other blockchain-enabled digital assets have been untold challenges – including scammers, fraudsters, and cases of market manipulation. Despite these obstacles, the potential for bitcoin and blockchain-enabled digital assets to transform how we track value and conduct commerce remains significant. The speed at which these innovations have come to the fore has created unease within certain Federal agencies. The SEC is no exception and their piecemeal regulation by enforcement has drastically impaired the ability of innovators and entrepreneurs operating in the United States.
Now, comprehensive regulations seem to be on the horizon, although some of the finer details are yet to be determined. If done correctly, the future could be set for a much safer decentralized industry, paving the way for greater legitimacy and adoption that demonstrates the true intrinsic value of digital assets.
The Industry Needs Appropriate Guardrails
The introduction of bitcoin and digital currency unleashed an unprecedented explosion in company formation and capital allocation without corresponding laws and regulations to provide necessary rules of the road. The unscrupulous actions of a small group of projects…