With Donald Trump as the president of the United States of America, and his advocacy for cryptocurrencies, the world is looking at digital currencies in a new light. The year-old billionaire-turned-politician, asserted his vision to make the US the world capital of artificial intelligence and crypto.
He said that this is possible as the US has the largest amount of oil and gas of any country on Earth and that his administration was determined to use it. He also informed that Republicans would likely pass the new crypto regulations before the conclusion of Congressional term in early as they want to campaign on it.
The panel went on to discuss how the regulation will shape and its impact on the financial world and consumers. Johnson shared that the current US securities rules were created in response to the stock market crash to protect consumers. Johnson asserted the significance of regulators evolving laws to keep pace with the rapidly changing technologies like crypto and AI, simultaneously acknowledging the challenge of adapting regulations that are in sync with the speed of innovation.
According to Kganyago, regulation needs to be clear, clean and understandable to everyone to make it effective. He added that the problem with effective regulation of crypto was that in most instances regulators are struggling to grasp exactly what they have to regulate.
On the other hand, Dixon said that another major problem was that cryptocurrency was widely misunderstood. Dixon explained that the point of the technology is that one could move assets extremely quickly peer-to-peer, and get them without borders.
