Crypto Regulation

Regulation in the crypto space is paramount. It has been the hanging sword for more than a decade. While most fear it, we must recognize that we are all in this together.

Existing systems were put into place hundreds if not thousands of years ago. However, duration does not equate to optimization. Hence many existing paradigms will have to be adjusted to accommodate a world of creative individuals and groups, rather than regulations designed to control wage slaves.

We are racing into a new world and since blockchain and crypto are global in nature, we have no choice but to accommodate in our regulations or risk keeping our populace behind while others innovate out into brave new worlds. Regulations are meant to be safeguards, however if not diligently managed can easily become the impediments to growth and opportunity. A lesson that our regulators will have to absorb swiftly for the risks are quite high.

While we are all quite aware that regulation lags innovation, this is one industry where regulators are best served not to lag too far behind. Lawmakers actually missed the window of opportunity to control the growth of this industry. That window closed back in 2018. All upcoming regulatory actions will be equivalent to taking a seat on the bus of this industry rather than being its driver.

While this may be an unfamiliar seat for regulators, it will remain the most prudent course of action. If over exertion is utilized, then innovation will swiftly move to other jurisdictions.

If under performance is achieved, then the industry will chart its own course, which may leave some at peril, and most in a potentially destabilizing situation. For lawmakers, this is where science will need to become art. The art of skillful regulation will, not only be the only course of action, but the most prudent one. GCC can help guide you in your efforts to make sure you hit the right balance.