Overcoming Challenges in U.S. Blockchain Regulation

July 18, 2023

In a recent roundtable, hosted by anchor Rob Nelson, the discussion took a serious turn towards the current and future state of cryptocurrency regulation and blockchain in the United States. The esteemed panel, featuring Alex Gordon Brander, co-founder of CODEX, grappled with this pivotal issue, considering its effects on technological advancement and the global competitive landscape.

Rob Nelson initiated the conversation by acknowledging the inescapable fact that the regulatory environment will either adapt to embrace crypto and blockchain or risk watching this innovative technology migrate offshore.

Some important statements

“I do think part of the challenge here is the regulatory environment, and that only changes if Congress legislates something new,” Nelson said. He then highlighted a looming downside: “the downside of this regulatory thing is not that technology and blockchain will go away, it just will go offshore it won’t be in the US.”

Brander was quick to agree with Nelson’s sentiment, providing a more in-depth perspective. “I understand where the regulatory actions are coming from. There have been real people hurt horribly by bad things happening in crypto and politicians embarrassed by it. There’s also significant regulatory capture and Wall Street vested interests that don’t want to see new exchanges come in,” he stated.

Brander then acknowledged the “lot of overreach in the SEC actions recently” and how it’s going to “play out in the courts,” starting with the pending Ripple case. He conceded that the coming years would be challenging for the American crypto industry, and that significant change may not occur without a new administration at the helm of the SEC.

Despite these obstacles, Brander remained optimistic about America’s long-term future. “I think over a 10-year period, a good boundary is going to be worked out in the courts, and we’re just going to be left behind from an innovation perspective against other countries that didn’t have to slow down for a few years. But, honestly, I’m not betting against America,” he affirmed.

Nelson shared Brander’s optimistic view and affirmed, “The blockchain train, however, has left the station so it isn’t stopping.”

Source: Overcoming Challenges in U.S. Blockchain Regulation.