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Crypto Insiders Jockey for Influence on Proposed Industry Advisory Council

^{Published on 2024-12-19 15:22:17 - bnnbloomberg}
 

• The incoming US administration is weighing two very different approaches to a council that the crypto industry hopes will dramatically increase its influence over digital-asset policy.

The article from BNN Bloomberg discusses the ongoing efforts within the cryptocurrency industry to establish a self-regulatory body, specifically focusing on the formation of a proposed industry advisory council. Various crypto insiders are competing for influence within this council, aiming to shape the future regulatory framework for digital assets. The initiative comes in response to increasing regulatory scrutiny and the need for the industry to demonstrate its commitment to compliance and consumer protection. Key players include major exchanges, blockchain technology firms, and legal experts, all of whom are lobbying to ensure their interests are represented. The council's formation is seen as a proactive step to foster dialogue with regulators, potentially preempting more stringent government regulations. However, there are concerns about conflicts of interest and the effectiveness of self-regulation in an industry known for its volatility and past controversies.

Read the Full bnnbloomberg Article at:
[ https://www.bnnbloomberg.ca/investing/2024/12/19/crypto-insiders-jockey-for-influence-on-proposed-industry-advisory-council/ ]

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