Reality Check: Regulate or Ruin? The High-Stakes Battle For Crypto’s Future
Beyond providing unprecedented financial autonomy, cryptocurrencies also reveal regulatory gaps that expose both consumers and the U.S. government to the risk of exploitation. Legal controversies surrounding the Binance cryptocurrency exchange illustrate how current U.S. regulations struggle to manage decentralized digital assets, thereby leaving vulnerabilities that bad actors can exploit.
This Article underscores the urgent need for a balanced regulatory framework—inspired by approaches in Europe, the Middle East, and China— that aligns consumer protection with the fostering of technological growth. A reformed approach must address regulatory gaps to protect consumers and support the economy while also allowing cryptocurrency—a transformative financial technology—to flourish. By incorporating adaptive compliance, robust oversight, and interagency coordination into its approach, the U.S. can create a regulatory environment that both safeguards economic integrity and ensures cryptocurrencies continue to thrive as a significant, stable force in modern finance.
PDF: https://journals.law.unc.edu/ncjolt/wp-content/uploads/sites/4/2024/11/Subei-Final.pdf
Author: Kareem Subei
Volume 26, Issue 2