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How smart regulation can improve the future of blockchain

Published 06/20/2021, 11:17 AM
Updated 06/21/2021, 01:40 PM
How smart regulation can improve the future of blockchain

With extreme positions on both sides, some would have us believe that decentralized technology and regulation are mutually exclusive. As pervasive as that narrative has become, a more evolved view is that both decentralization and regulation are inevitable, so the best results will flow with regulators and innovators coming together. But what will that cooperation look like?

At the Stellar Development Foundation, our view is that regulators and innovators will (and should) influence each other, and that means both sides should be prepared to compromise. Let’s start with some honest self-reflection: There is no inherent quality of blockchain or cryptocurrency that deserves to be wholly unregulated, but on the other hand, neither does the technology deserve to be banned or unfairly regulated simply because it is new or different.

Seth Hertlein is the head of policy and government relations at the Stellar Development Foundation, a nonprofit organization that supports the development and growth of Stellar, an open-source network that connects the world's financial infrastructure. Seth began his career as a securities regulator and most recently served as executive director and assistant general counsel for public policy and regulatory affairs at FS Investments, a leading alternative asset manager. Seth holds an MBA in finance from Wright State University and a JD (NASDAQ:JD) from The Ohio State University.

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