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In this week’s episode of “Bitcoin Bottom Line,” hosts CJ Wilson and Josh Oszelewicz, a corporate and financial regulation attorney at Ice Miller, are joined by guest Yankun Guo to discuss cryptocurrency regulations and how they intersect with the law. joined for.
Guo’s interests lie in bridging the gap between technology and the law. She explains her actions as “working with companies to help them navigate newly emerging technologies.” Guo highlighted the complex and evolutionary nature of the relationship between cryptocurrency and regulation, sharing, “One of the things that’s exciting about crypto is that depending on what you do with it, you’re in a different jurisdiction. covered under a different law or regulation.”
As they delve deeper into this relationship, Wilson explains, “Crypto is 24/7, bitcoin trades 24/7, with many thinking the law is 9:00 to 5:00.” He further asks, “Is it getting too fast for laws to catch on? Or are there instances where laws have been framed, or are in fact old laws still in force, even though this is a new market.” Is?”
To this end, Guo points out that in many cases outdated laws are being enforced, but she pushes for development, “educating legislators and policy makers to make sure the laws hold up and hopefully that promote innovation so that it does not hinder progress.”
Wilson then discusses the ways in which regulations can vary from state to state. Guo explains that it’s difficult to navigate because, “any company, especially if you’re a technology company, operates purely in one state… on top of that.” discussing regulations in the United States as a whole. At the time, Wilson refers to this as a double-edged sword, balancing security and assurance with comparatively high regulations. Guo points out that with widespread cryptocurrency and bitcoin adoption has also increased regulation. Finally, Wilson asks Guo “What would better laws and regulations look like?” in which she outlines a two-step process to reach clarity and understanding, beginning with “What are we trying to achieve?” This is followed by “What are the steps to get there?”
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