Blockchain Association hosts Policy Summit, calls for crypto regulation and national security

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As a seasoned crypto investor with over a decade of experience navigating the ever-changing landscape of digital assets, I can confidently say that this year’s Blockchain Association Policy Summit was a pivotal moment for the industry. Having attended numerous conferences and summits myself, I have never seen such a high-level gathering of policymakers, industry leaders, and innovators in one place.

This week, key figures such as legislators, business leaders, and pioneers in the field of blockchain came together for a discussion about the potential future regulations regarding cryptocurrencies and how these might influence national security matters.

In Washington D.C., on December 16-17, 2024, the Blockchain Association organized their third yearly Policy Summit. The gathering brought together important U.S. legislators, industry figures, and members from the decentralized infrastructure field. The primary focus of this event was to ensure that blockchain innovation complements regulatory understanding and aligns with national security concerns, as stated by Denis Serikov, CEO of ThronePR, a crypto public relations firm.

Serikov attended the summit and shared his observations in a note to crypto.news.

U.S. policymakers attended the event

A gathering was held that assembled policymakers such as Tom Emmer (House Majority Whip), Mike Flood, and Wiley Nickel, for a discussion focusing on tackling issues and capitalizing on chances in controlling digital currencies. Topics under debate encompassed the regulation of stablecoins, applicable securities laws, and the Securities and Exchange Commission’s stance when it comes to supervising digital assets.

According to Dave Grimaldi, Executive Vice President of Government Relations at Blockchain Association, the reactions from Congress members, the government, and regulatory bodies have significantly increased. This surge indicates a significant shift or change of 180 degrees in how the industry is viewed when it comes to cryptocurrency and blockchain technology.

Mike Flood emphasized the importance of collaboration between state and national authorities to prevent excessive regulation, showing confidence in future partnerships between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

During a recorded speech, the newly elected President Donald Trump praised the summit, underscoring his administration’s dedication to fostering advancements in blockchain technology, all while tackling any related national security issues.

Previously, the Blockchain Association urged President-elect Donald Trump and Congress to focus on five essential cryptocurrency initiatives within the initial 100 days of his administration.

Blockchain’s role in national security and calls for regulatory clarity

A key theme at the gathering was exploring the impact of distributed network structures for physical infrastructure on improving national security. Experts from various blockchain initiatives such as CESS, Filecoin, and Helium shared insights into how decentralized data methods can mitigate weaknesses found in centralized systems, particularly by strengthening data protection and upholding user privacy.

At the gathering, industry professionals urged regulatory bodies to implement pragmatic policies instead. They expressed apprehension over the SEC’s broadened Dealer Rule, fearing it might hinder future innovations.

Joseph Li, Co-Founder of CESS, stated that there is a significant level of partnership between the government and private industry aimed at accelerating the adoption of blockchain technology more swiftly than anticipated. He also mentioned that they recently visited Capitol Hill to enlighten U.S. lawmakers about their technology.

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2024-12-20 00:18