US SEC Commissioner Supports Creation of Non-Exclusive Safe Harbor For Crypto In Singapore
The Singapore University of Social Sciences (SUSS) recently held a convention named as the Convergence Forum. The tech event had several panel discussions and officials from around the world. The most important presence there was possibly the U. S. Securities and Exchange Officer (SEC) Commissioner Hester Peirce.
Peirce affirmed that there is interest in creating a “non-exclusive safe harbor” in order to let people buy and sell tokens without all the requirements that people are generally asked.
The expert also talked about cross-border concerns and the fact that the international community is still not prepared for this at the moment, as more cooperation needs to be done before.
In order to address these issues, regulation between the countries need to be more international and, if there is no explicit decision on how to do it, international jurisdiction needs to be created.
Other panels included discussions about the future of blockchain technology, how Asia and the United States are related to the crypto market and other similar subjects. During one of the panels, the co-founder of Lonhash, Emily Parker, triggered a heated argument about the Chinese decision of banning cryptos from their markets.
The CEO of Jenga, Iris Xu, one of the sponsors of the event, affirmed that the essence of tokens created using the blockchain technology is the creation of network effects. Because of this, three aspects are important when creating a new cryptocurrency.
The first one is to find the right fundraising model, deciding how to deal with legal compliance and the community of real users as well.