Circle Tells CNBC That Lack of Awareness In Cryptocurrency Industry Is An Issue

Circle Official States That Lack of Awareness In The Crypto Industry Is An Issue

During a recent interview, Carla Carriveau, from the Senior Regulatory Counsel of Circle, has affirmed that the regulators and the heads of blockchain companies have to establish legislative pointers around the field.

According to her, which acted as the senior counsel of the U. S. Securities and Exchange Commission (SEC), the legislation is the right way to make the industry move forward, especially when you consider the United States.

She defends that, as mainstream adoption gets higher, cryptos will need a lobby set up to make a case for cryptos in Washington and most of the major companies should be acting to ensure that a positive framework is passed. Coinbase, for instance, has already teamed up with Circle to be involved in major changes in the fintech industry.

The Blockchain Association was also created as a way to secure lobby in Washington to ensure that the future of cryptos in the country is as bright as possible.

Mike Lempres, the Chief Policy Officer of Coinbase, has affirmed that the association is making a considerable effort to help companies in the blockchain space to welcome regulation. Also, they are making a heavy investment in creating a system that can help all, not gaming the system. The main objective, he affirms, is to create a framework that will stand the test of the time.

Circle has affirmed that the U. S. Congress has taken the first steps for the industry to move forward and achieve good results but that there is still a lack of clarity between cryptos and security tokens that is certainly crippling the industry. Therefore, a long discussion will be needed in order to clear all these issues and to establish the framework.

Carriveau spoke about the lack of awareness and information that a lot of people still have about the general consensus. She has affirmed that the companies and the industry make valid points but that it is very hard to determine things at this point and that there is still a lot of work to be done.

She has affirmed that the future is certainly looking bright at this spot but that the fact that regulations do not always work as they were crafted is a very big concern at the moment and that the issue with tokens and securities is a part of it.

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