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Regulation & education: The keys to blockchain growth | Ben McKenzie, Yves Mersch | #LDNBlockchain23
Discover how regulation and education can unlock the growth of blockchain and cryptocurrencies. Hear from experts on the importance of transparency, accountability, and stability in the industry.
- The regulation of blockchain and cryptocurrencies is crucial for growth and adoption.
- Self-regulation is insufficient and may lead to a lack of transparency and accountability.
- The US has a unique position in the regulation of blockchain and cryptocurrencies, with different agencies having varying levels of authority.
- Cryptocurrencies need to be tested and proven to be secure and stable before they can be widely adopted.
- Education and understanding of the underlying technologies are essential for regulation and adoption.
- A balanced approach is needed between regulation and innovation, to ensure that the industry is able to grow and evolve while still being subject to proper oversight.
- The EU has a more comprehensive approach to regulating financial instruments, including cryptocurrencies.
- Celebrity endorsements of cryptocurrencies can be misleading and may contribute to the lack of trust and understanding in the space.
- Stability and security are essential for the widespread adoption of blockchain and cryptocurrencies.
- The use of tokens and digital assets for fractional ownership and fundraising can be beneficial, but requires proper regulation and oversight.
- Auditing and reporting are necessary to ensure transparency and accountability in the industry.
- The expansion of stablecoins and decentralized exchanges will require further regulation and oversight.
- A sandbox environment can be useful for testing and developing new financial instruments and technologies.
- The design of new financial instruments and technologies must be done with user safety and protection in mind.
- The lack of financial literacy and understanding of the underlying technologies can hinder the adoption of blockchain and cryptocurrencies.