‘Decentralized’ means nothing to regulators
US policymakers sent signals in the final months of 2021 that greater oversight of the emerging asset class is imminent.
Cryptocurrency is too broad to fit under one organization’s umbrella, Fasanello said. Regulators must look at crypto as a security, commodity, disruptive technology and currency, while also considering consumer protection, anti-money laundering and anti-terrorism efforts.
I think we’ll see the US Treasury and also potentially state level organizations and regulators in the US start to dive deeper and deeper into this space and take a closer look at it, it is going to be a multi agency approach, ultimately.
One of the key roadblocks to greater regulatory clarity around the digital asset space is the question of jurisdiction, policymakers and industry members agree.