Cardano's Charles Hoskinson Proposes Groundbreaking Approach To Crypto Regulation.
26 Jun 2022, 08:00
Cardano’s Charles Hoskinson Proposes Groundbreaking Approach To Crypto Regulation
Cardano’s founder and co-founder of Ethereum, Charles Hoskinson has suggested a different approach to the regulation of cryptocurrencies and crypto-related activities to the US Congress. The proposed approach involves software-based precepts.
Hoskinson believes crypto technology can perform self-regulationSpeaking on cryptocurrencies and blockchain technology in a congressional hearing on Thursday, Hoskinson proposed that compliance exercises and measures be left to the software developers affiliated with the respective crypto projects involved.
He suggested that the regulation and compliance exercise involving cryptocurrencies emulate the fashion of the self-regulation pattern typical in the banking sector. According to him, exchanges should be allowed to design and maintain these KYC-AML exercises just like banks.