Currently, the U.S does not have a solid regulatory structure that governs the action of blockchain related innovations. In order to remedy this, the U.S House of Representatives Member, Warren Davidson, has made announcements that he will be hosting a roundtable which is expected to be attended by representatives from top Venture Capital Firms, Major Financial Institutions from Wall Street, as well as Cryptocurrency industry influencers. The main purpose of the roundtable is to draft a policy that not only regulates the Cryptocurrency industry but also ensures that the growth of the industry is not handicapped.
Who Will be Attending the Round Table
The roundtable will bring together experts who will contribute towards the drafting and vetting of a House bill Warren Davidson is looking to get passed in the House of Representatives.
The bill is expected to cover all that has to do with regulation of the coins and associated Initial Coin Offerings (ICOs).
In the invitation letter sent to the invitees, he wrote:
“Your input is critical to helping us preempt a heavy-handed regulatory approach that could stall innovation and kill the U.S. ICO market,”
Davidson further outlined a list of eight questions for the meeting, including:
“What is the best way to protect consumers from fraud?”
The roundtable discussion is also expected to cover topics on private funding disclosures and token issuance laws.
Invitees to this roundtable include several top ranking financial experts who have made statements in the past on reasons why the US needs to start working on a clear regulatory framework guiding the blockchain industry.
A good example of this is Pat Berarducci, a lawyer for a blockchain software technology company, ConsenSys. The lawyer has compared the fast-paced blockchain innovation and the present governance uncertainty to the early dot-com years.
He states that:
“There are a lot of regulators wanting the U.S. to develop ‘do no harm’ policies to allow innovation to grow, just like they did in the internet era,”