Introduction
Blockchain Australia, the industry body representing the blockchain and cryptocurrency sector in the country, has appointed a new CEO who is advocating for a more proactive approach to regulation. Steve Vallas, the new CEO, believes that the current approach of regulation by enforcement in the United States is not the right way forward for the industry.
A More Proactive Approach
Vallas believes that a more proactive approach to regulation is needed, one that focuses on educating regulators and lawmakers about the benefits of blockchain and cryptocurrency. He argues that this approach will lead to better outcomes for both the industry and consumers.
The Current Approach
The current approach to regulation in the United States is one of enforcement. This means that regulators and lawmakers are more likely to focus on punishing bad actors rather than working with the industry to develop sensible regulations. Vallas believes that this approach is counterproductive and ultimately harms the industry.
The Benefits of Blockchain and Cryptocurrency
Vallas is keen to highlight the benefits of blockchain and cryptocurrency, including their potential to revolutionize industries and bring financial services to the unbanked. He believes that a more proactive approach to regulation will help to unlock these benefits and allow the industry to flourish.
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Conclusion
Blockchain Australia’s new CEO is advocating for a more proactive approach to regulation, one that focuses on education and collaboration rather than punishment. He believes that this approach will lead to better outcomes for the industry and consumers alike.
