A Blueprint for Crypto Market Structure
Kristin Smith, CEO of the Blockchain Association, outlines essential principles to guide regulation in the digital asset industry. As the sector transitions towards clearer regulation, these principles advocate for a balance between consumer protection and innovation. The framework addresses twelve key areas, emphasizing the need for standardized disclosures and robust safeguards while allowing businesses to innovate. It highlights the importance of distinguishing financial activities from other blockchain applications, proposing that non-custodial software should not face the same regulatory hurdles as traditional financial intermediaries. Additionally, the need for clear token classification, defining securities and commodities, is underscored. The principles promote reducing friction in cross-border transactions to enhance U.S. competitiveness, alongside protections for developers to foster ongoing innovation. With an urgent need for action from Congress and regulators, the framework illustrates the industry's readiness for coordinated policy discussions to create a responsible market structure for digital assets in the U.S.
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