Development of Blockchain under Regulatory Dilemmas

In recent years, the rapid development of blockchain technology and cryptocurrencies has attracted high attention from regulators. Some influential companies, associations, and individuals have expressed dissatisfaction with the current regulatory framework in the United States, calling for the establishment of new rules more suitable for blockchain technology.

Anderson Horowitz Fund (A16Z) believes that the Kik case may have significant implications for the clarity of cryptocurrency regulation. They have been advocating both publicly and behind the scenes for the modernization of existing securities regulation to better accommodate Blockchain technology.

The Blockchain Association calls for relevant policies to be generated through an open decision-making process, and Congress needs to maintain an open attitude towards understanding the impact of cryptocurrencies. They believe that there are issues with the SEC's guidelines that could have a significant impact on the open Blockchain ecosystem.

Some members of Congress have also written to the White House and the SEC chairman, requesting a forum on Blockchain technology to clarify regulatory standards for digital tokens and provide more specific guidance.

The Congressional Blockchain Caucus has proposed a resolution supporting digital currencies and blockchain, advocating that the federal government should provide a relaxed and consistent legal environment for blockchain, avoiding inappropriate restrictions.

The Digital Chamber of Commerce calls on the federal government to formulate a comprehensive national Blockchain strategy and establish an official agency to coordinate the development of Blockchain in the United States.

Companies like Circle have stated that U.S. regulators generally view cryptocurrencies as securities, creating an environment of uncertainty. They are calling for an end to using 20th-century legal standards to regulate 21st-century technology.

Token centers, Kraken and other institutions believe that regulators need to distinguish between different types of crypto assets to avoid cooling the effect on innovation.

Some law firms and former regulatory officials have also提出了建设性意见,呼吁采取无害监管,推行新型监管框架,而非简单套用现有规则.

Overall, the industry generally believes that the existing regulatory framework is no longer suitable for the new world of Blockchain, and hopes that regulatory agencies can keep pace with the times to create a favorable environment for industry development. However, the current attitude of the SEC remains unclear, and whether the United States can maintain its leading position in the global Blockchain competition remains to be seen.