A report from the Economic Studies program of US think tank, Brookings, claims better regulation will benefit the crypto industry. It states that crypto-assets currently fall into a jurisdictional gap, and that the SEC should fill that role.
Don’t Hate The Game, Hate The Players
The report immediately scores an own goal with the choice of title – “It’s time to strengthen the regulation of crypto-assets.”
This suggests that cryptocurrency itself is inherently insecure or in need of regulation, which is clearly not the case. The report actually discusses the regulation of cryptocurrency intermediaries, which, as recently noted by the Winklevii, is an altogether different thing.
Anyway, the Brookings report suggests that better regulation of crypto-companies will:
benefit crypto investors, further the development of new technologies, curtail the use of crypto-assets used for illicit payments, and reduce the risk of cyber attacks.
In which case we should surely all be calling for it!
The Case For The Prosecution