More

    Blockchain Research Institute (BRI) Says Microsurgery vs Chainsaw For Crypto Regulation Clarity

    A report on regulations surrounding blockchain technology and cryptocurrency came out recently on the state of regulations. BRI, the Blockchain Research Institute is a worldwide group of industry specialists with millions of dollars in funding to back their research. They are responsible for the recently released report on the need for clarification on regulations set in place for crypto. The executive director of the organization Tapscott made the statement on the need for clarity in addition to speaking of talks held earlier this year in May regarding regulations on crypto.

    Regulators tend to micromanage everything, causing there to be too much red tape to be laid when it comes to cryptocurrency or blockchain. In his report, he points out that nearly seventy participants at the discussion where of Canadian origin. Location is an important factor, considering Canada and the United States have entirely different regulations as it is. Tapscott wants to see the industries significant problems solved when speaking from a regulatory perspective. As of now, there is a lack of clarity making it difficult to abide by all regulations adequately. Communication is another issue that needs a solution.

    At the present moment, there is an apparent lack of communication between entrepreneurs, blockchain companies, regulators and financial service institutions. The problem has led to the issue with clarity regarding regulations. With most members participating in the talks there is a bias towards Canadian needs over American ones. Canada currently has a problem with the limited number of regulatory authorities for securities in the country. Regulators are determining the best way to address the situation before further confusion happens between the government and cryptocurrencies.

    Regulators and cryptocurrency users alike also want to figure out what type of token each cryptocurrency is finally. Security tokens vs. utility tokens, for example, require different regulations to be set in place for them to operate correctly. Governments know this as well as cryptocurrency companies, so it is a pressing issue they are finding solutions for as you read this article.

    Education for the public is also needed since everyone can agree that cryptocurrencies are here to stay. Governments must provide people with the resources they need to start gaining an understanding about cryptocurrency if it is to so for it to effectively integrate into society.

    BRI is performing more research on how mainstream blockchain and cryptocurrency adoption is received by the larger corporations like Microsoft and Apple. Several of the larger tech companies have already started integrating blockchain technology into their systems with more soon to follow the process.

    As for BRI, the organization is working closely with groups to solve the world’s cryptocurrency problems. They have a direct line of site on the end target, and that is to learn as much as possible about cryptocurrency and blockchain so that they can educate the rest of the world.

    What regulations are you clear on regarding cryptocurrency? Tell us what you think of them in the section below.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Avatar
    Bitcoin Exchange Guide News Team
    B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,281FansLike
    2,757FollowersFollow
    4,128FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Danone Launches ‘Track & Connect' Putting Baby Formula Supply On Blockchain Technology

    Danone is applying for the first time blockchain, aggregation and serialisation technologies for its infant formula packs. David Boulanger, the company’s senior VP of...

    Deribit Exchange Launches Ethereum Daily Options After Success With Bitcoin Contracts

    The Deribit Exchange specializing in crypto derivatives has launched daily Ether (ETH) options, an announcement from Monday and made on Twitter says. https://twitter.com/DeribitExchange/status/1229345670492016640 The strike price...

    Central Bank of Russia Proposes Amendments To Legal Framework for Tokenization

    The proposed cryptocurrency legislation in Russia could change a lot, now that a new bill for tokenization has been filed. On February 17, the Central...

    Ripple (XRP) Price Analysis (February 17)

    Key Highlights XRP market is under a falling force by the US dollar price valuation. XRP/USD pair’s value now averages a low point at...

    Binance Applies for Singapore Crypto License Under The New Payment Services Act

    Binance crypto exchange through its parent company has applied for Singapore’s new operating license. This follows an upgrade of laws governing crypto in the...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.