cryptonews: Meta pitches a soft-touch approach to Metaverse Regulation 🔎, but is this the best time to suggest a light-touch regulatory approach for blockchain technology?
With U.S. politicians shocked by the collapse of FTX, this probably isn't the best time to suggest a light-touch regulatory approach for blockchain technology.
Noting that early blockchain projects tended to focus on financial use cases — which is reasonable, given that the technology was created to power a new system of payments — it proposes a "same risks, same rules" approach, maintaining that "financial regulations should only be applied to financial use cases, like payments and securities offerings."
The best way to do this, it argues, is to look at how existing laws and regulations can be used or adapted to cover blockchain-based products and services.
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