CoinRoutes CEO: Regulators Need to Rethink Crypto Regulation

2023/08/24 15:50

Dave Weisberger, CEO of CoinRoutes, stated that the problem in the United States stems from a lack of clear regulations and rules, leading to regulatory agencies applying different rules arbitrarily. Weisberger added that this problem arises from the existence of two different regulatory agencies (the SEC and CFTC), which play different roles in the financial system, and these roles may overlap depending on the crypto assets involved and the use cases being reviewed. Furthermore, the SEC's rules were established in the 1940s and updated in the 1970s and should not be used to regulate new asset classes and technology-driven products. Weisberger gave an example, stating that "renovating a house is harder than building a house from scratch," and regulatory agencies need to reconsider their approach to regulating cryptocurrencies.

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