Recent discussions and legislative efforts have highlighted a collaborative approach towards the regulation of blockchain technologies and the cryptocurrency industry. A meeting of the All-Party Parliamentary Group (APPG) for blockchain technologies in the UK Parliament focused on strengthening the business, regulatory, and customer environment across various sectors, including trade, aid, finance, and property. In the United States, a bill co-sponsored by Senators Hagerty and Lummis aims to foster cooperation between the federal government and private industry to address malfeasance in the crypto space without impeding innovation. The bill would enhance law enforcement's ability to identify violations using existing authorities. Advocates, including Taylor J. Barr, have commended the senators for promoting information sharing between law enforcement and crypto firms, noting that technology developed by the crypto industry could serve as powerful tools for regulators if managed carefully. Alexander Grieve also expressed appreciation for the senators' constructive stance on national security and cyber issues in relation to crypto, contrasting it with the more critical views of other members.
👏🏻Huge thanks to @SenLummis and @SenatorHagerty for taking steps to enhance information sharing between law enforcement + #crypto firms. If shared ~carefully~ tech created by the #crypto industry to trace and root out illicit finance can be powerful tools for regulators. https://t.co/4Ep1tFFi1j
👏🏻Huge thanks to @SenLummis and @SenHagerty for taking steps to enhance information sharing between law enforcement + #crypto firms. If shared ~carefully~ tech created by the #crypto industry to trace and root out illicit finance can be powerful tools for regulators. https://t.co/4Ep1tFFi1j
Appreciate @SenatorHagerty and @SenLummis taking a “let’s work with crypto” approach on natsec and cyber issues, rather than that of other Members, who have sought to demonize it. https://t.co/m768SNZW2K
The federal govt should partner with private industry to combat bad actors—including in the crypto space. My bill w/ @SenLummis would help law enforcement agencies leverage their existing authorities to better identify violations w/out stifling innovation. https://t.co/aRbVSD4ynP
An excellent meeting of the APPG for blockchain technologies in Parliament yesterday. Fantastic contributions on strengthening the business, regulatory and customer environment, and uses from trade and aid to finance and property and more besides. @APPGBlock @Brit_blockchain https://t.co/YqNAAW0Xxk