It's still possible that the United States can craft laws that treat the crypto industry fairly, says Crypto Council for Innovation’s CryptoSeanLee, but it won't be easy.
“If you don't properly regulate centralized entities, well, we've seen back in history many times about what can go wrong.”
He said that there was a lot of education that needed to be done and this is what organizations such as theThe Council is striving for dialogue with politicians to help them understand where things are and “help them also understand what other jurisdictions are thinking about,” he added. The assistance can be provided to “help craft more progressive policies” that allow for both the communities and companies to understand the landscape much better.Sheila Warren, CEO of the Crypto Council for Innovation, made similar arguments in a statement on the recent CFTC Binance lawsuit, stating that it “will hopefully mean the end of people coming into the crypto space trying to take advantage of the lack of regulatory clarity in the United States.
She also said that the CFTC’s classification of certain cryptos as commodities was “a powerful shot across the bow of the SEC.”
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