Is crypto against regulation? Maybe not. The COO of the Web3foundation, one of the firms behind Polkadot, says some regulation could be needed for innovation.
on non-custodial wallets, but overall those in the industry are trying to help policymakers to understand Web3. According to the Web3 Foundation chief operations officer, some lawmakers are still making decisions “too fast or without having education” on the space. However, the Facebook-backed Libra project in 2019 may have been the catalyst many in the EU needed to understand the urgency to move forward with a regulatory framework.
“We need to be aware that we need to evolve in a world where regulation is not necessarily bad,” said Perez. “You need certain level of regulation for protection, right? The key point is where you draw the line and we try to help drawing the line in a place that makes sense for the regulators so there are enough frameworks and protections from their perspective while leaving innovation growth.”