Crypto Regulation: How to Stay Informed
|— Cryptocurrency regulation is consistently shifting, with countries across the globe introducing new policies all the time as regulators get to grips with crypto – and accept that it’s here to stay|
— Keeping up to date with crypto regulations will help you understand where things are, how you can benefit from them – and where they’re going.
— It’s also important for staying within legal compliance if you own crypto yourself.
— It’s crucial to cut the nonsense and go to reputable, knowledgable and specialized information sources if you want to really understand what’s going on.
— Here is a toolkit of key resources, so you can engage with the space – and have your say.
Cryptocurrency, where tech meets finance – and both of them meet your future. The real question is – why would you not follow crypto regulation? Let’s get into it!
Few people took crypto seriously when Bitcoin’s white paper was first released in 2008. Despite its utility, popularity and sheer innovation, cryptocurrency struggled to gain legtitimacy for many years. Which is precisely why it’s so interesting that it’s now one of the most hotly debated regulatory issues for governments across the planet.
Love it or hate it, the crypto industry isn’t going anywhere. And as it gains legitimacy, it becomes more of a focus for policymakers as they discuss where – and how – to exert control on the growing space.
Crypto Regulation is Hard to Follow
Regulation across the world is taking shape in different ways, and it can be hard to keep track of. Unlike politics or regular finance, staying up to date is not necessarily as simple as checking your regular news source, despite its significance.
…Which Limits Your Ability to Have a Say
This has another effect too: it makes it difficult to know how you can have your voice heard when it comes to the future of decentralized finance (crypto IS meant to be democratic, after all).
So to make Keeping Up With The Cryptocurrencies a little easier – and even enter the dialogue yourself – here is just what you need. Your guide to key sources of information about crypto regulation. Ready to have a say in your future?! HWG.
Crypto News Outlets
Staying informed is important. Especially if you own crypto yourself and want to know how you can use it going forward. Normally, for financial-related policy news you’d look to your regional media outlets, right? But crypto is still pretty niche. So the reporting is often not given enough prominence (relative to how significant certain events are) or otherwise lacks depth, detail and context.
So crypto-literate news resources are crucial in tracking big developments and how they affect you. The following are some pretty great places to get to know what’s happening across the world.
CoinDesk and Cointelegraph
As well as following big events and stories, they each have a dedicated policy section reporting on regulatory developments in the crypto industry. The information is objective and provides detailed coverage and insight into the global evolution of crypto regulation – as well as the events driving that evolution.
These outlets are a great starting point for anyone looking to get their finger on the pulse of crypto regulation and gain a broad overview.
Relative newcomer Blockworks hit the scene just four years ago with the aim of being “Bloomberg for crypto”. Launched by Jason Yanowitz and Michael Ippolito, the digital media platform sits at the intersection between crypto and finance. Necessarily tracking all relevant policy activity around the industry. Here, you’ll find information that empowers you to understand the scene and imminent decisions.
Elliptic is a crypto compliance consultancy firm that also regularly publishes crypto regulation news on its blog. With insights produced by its Global Policy and Research Group, the publication is a reliable source of insight on the evolving space, with expert opinions and quality research fueling its articles.
Take a look at the wrap up of 2021 and predictions for 2022 regulation to get a taste of Elliptic’s points of view.
Discussion and Debate
Crypto regulation is a point of intense debate; and not just policymakers themselves, but key industry voices, business experts and academics. All of whom bring valuable perspectives to the wider dialogue – and sometimes, influence the process.
Podcasts are ideal platforms for listening to discussions, debates and deliberations between field experts. They can give you a little insight and context into what’s happening. This also empowers you to enter the dialogue yourself. Here are a few platforms where you can listen in:
What Bitcoin Did Podcast
Peter McCormack, popular Bitcoin blogger and journalist, hosts a twice-weekly podcast where he takes deep into the world of Bitcoin development, investment, and adoption. In ‘What Bitcoin Did’, McCormack leads engaging, insightful and accessible conversations about big events in the industry, and how regulation might influence the future of digital currency. Here is a great place to get different perspectives and understand the limits of the debate.
All Things Crypto Regulation Podcast
Your host, Jake Chervinsky is Executive Vice President and Head of Policy for Blockchain Association (we’ll come back to that), and has deep knowledge in crypto regulation. In ‘All Things Crypto Regulation‘, he goes through a number of legislation-related issues in the market, such as securities laws related to a Bitcoin ETF, the SEC, stablecoins, and current legal cases (such as Kik and Ripple). He also discusses his hot take on what regulation should look like (if anything) in the United States.
With their ability to influence public opinion and debate, thought leaders indirectly participate in the policy formulation process. Sometimes breaking news nobody else is talking about. So staying up to date with them is non-negotiable.
Here are a couple of people in the industry whose opinions are worthwhile keeping tabs on.
Kristin Smith (@kmsmithdc)
As an executive director at the Blockchain Association, Kristin Smith has a WEALTH of knowledge in the industry. She serves as a liaison between policymakers and the cryptocurrency industry, with valuable insight into what’s happening in both scenes.
Her Bitcoin and crypto proponency comes with a background of insight into how and why blockchain technology is set to drive innovation in economics and the financial space.
Dan Held (@danheld)
Dan Held knows a thing or two about innovation. A former big player Uber, he has been creating his own successful crypto products for years. He’s currently Director of Growth Marketing at crypto exchange Kraken. Not surprisingly, his views focus on how cryptocurrency is beneficial for financial infrastructure.
What can he offer you? His newsletter, The Held Report, takes a deep dive into industry news and offers insight into a pretty great variety of news bites related to crypto taxes, adoption, inflation, and why Bitcoin isn’t anything like a bubble.
Michael Saylor (@saylor)
OG Bitcoin Bull and MicroStrategy CEO Michael Saylor is one of the key voices in crypto regulation. He was not only one of the earliest (and most successful) adopters of Bitcoin, but is also an extremely successful entrepreneur in his own right, and commands a global audience.
A proponent of clear and transparent regulation that enables faster institutional adoption of Bitcoin. Saylor gives voice to some of the key perspectives in the regulatory debate, and a source of key insight for anyone following the process.
And finally, in a space made up of so many voices, often the most direct means of understanding exactly what’s going on is by following research groups. These platforms are less about events and opinions, and more heavily focused on research papers and engaging in a direct dialogue with policymakers. The information you find here may not be in bitesize format. It will give you a deep understanding of proposals, with the expertise to back it up. Here are a few:
Coin Center’s mission is simple: promoting a regulatory climate that preserves the freedom to innovate using blockchain technologies.
With writers from a variety of competences, including economics, finance, law and social policy, Coin Centre is able to deeply research important lines of thought when it comes to regulating crypto. Engaging in a direct dialogue with key policymakers like the Securities and Exchange Commission via its comments papers.
Coin Centre’s blog posts contain expert analysis of upcoming regulations and proposals. Making the platform a good barometer for anyone getting to grips with changing policies.
The Blockchain Association has one fairly single-minded goal. Improving the public policy environment in the United States so that blockchain technology can reach its full potential.
The platform has three pillars: news, blog posts and press releases. All of which cut through the noise and speak directly about crypto policy changes, and the people formulating them. Because of its close partnering of governmental entities and crypto industry proponents, the Blockchain Association is consistently up to date with the law within the industry and how regulations are being formulated and implemented in the space, and is an active voice in the process.
ADAN (l’Association pour le Développement des Actifs Numériques)
ADAN is a key voice in the European regulatory space. Composed of experts and professionals from across the European blockchain, digital and finance sectors. ADAN advocates for the development of the crypto space, and does so by discussing how it might overcome current challenges.
Its working groups produce regular Position Papers, engaging directly with policymakers on key issues, and are a great source of information for anyone seeking to understand or participate in the European policymaking process.
Crypto Needs You To Listen
When people say “knowledge is power”, it’s not just a cute tagline; it’s the reality of having a say in the future of your crypto.
Keeping up to date with regulations in your region – and across the world – can help you make informed choices about how you manage your crypto, both in the short-term and in the future – not to mention, giving you a chance to voice your opinions on something that affects your life.
Get the right insight into the cryptocurrency industry and get the power to properly frame the future of your finances. So go forth, and read, listen and engage with this important subject – with cryptocurrency, the power really is in your hands.
Knowledge is Power.
Want to know more about crypto regulation? Good call. Here, we give you the lowdown on what to look out for. Thanks, School of Block.