According to my recent article in Fintech Futures, “From Wild West to crypto best: How compliance separates cowboys from champions,” the world of crypto is about to change with the work of the Financial Action Task Force. One of the most powerful standards-setting bodies, the task force is expected to require regulators to instill recognizable user data, which is not how blockchains are typically designed.
This new article further notes that all the major players in the industry will be forced into closer collaboration – with regulators and with each other. While regulated businesses can attract additional funding, everyone needs to be prepared for additional regulations and oversight when it comes to cryptocurrency.
To learn more about the new sheriff in town, potential new regulations and the state of the industry today, you can check out my article at https://www.fintechfutures.com/2019/08/wild-west-to-crypto-best-how-compliance-separates-cowboys-from-champions/.
As I note, “the question we face is not whether regulation is necessary for digital assets, but how digital asset businesses can best work with regulators.”