Regulating the Crypto Industry- favorable for the investors

Robert Ellison noted that a regulatory framework for staking is achievable because the concept is very easy to understand.

Managing editor Alex Cohen interviewed Figment's staking marketing director Robert Ellison at the European Blockchain Convention (EBC) 2022. The duo discussed topics like educating regulators on blockchain and crypto, how businesses navigate uncertain regulatory landscapes and regulating staking.

According to Ellision, it's very important to educate regulators in the space to mitigate the risks of them going overboard without understanding the basics. The Figment executive mentioned that clear understanding is very important because of the complicated nature of the space. He explained that:

“This is the battle we're fighting, and it's interesting to see that balance geopolitically to some countries versus others, and we hope that they just really listen and learn.”

Apart from educating regulators, the duo also spoke about how businesses navigate the space amid regulatory uncertainty. Some companies opt to go ahead with their projects and would rather ask for forgiveness later rather than permission in advance. Ellison said that:

“I think that's a business sentiment where you ask for forgiveness. You're not going to wait. You can't wait. You got to move forward. Some of that is more risky.”

Ellison also commented that some regions provide more certainty for businesses than others. Citing wrapped assets as an example, the Figment executive explained that if you're in America, getting into wrapped assets is a "riskier move" because you’re not sure if it may get regulated soon.

source: cryptopanic.com