On April 22nd, the US SEC and members of Congress held two meetings this week to discuss a series of topics in the field of encrypted assets. Bryan Daugherty, Director of Global Public Policy of BSV Bitcoin Association, published an open letter calling for a more collaborative approach between the private sector and the public sector.
The letter emphasizes the need to distinguish between cryptocurrency speculation and the effectiveness of blockchain technology, and strive to strike a balance between protecting consumers and promoting innovation. As the industry faces a crossroads in 2023, and as the industry faces a crossroads in 2023, we support the cooperation between the public and private sectors to ensure that different viewpoints provide information for decision-making. Support the mode of cooperation between the public and private sectors, ensure that different viewpoints provide information for decision-making, and put forward many suggestions on regulating the blockchain industry.
-Digital asset recovery: investing in a tool that enables miners and exchanges to recover lost or stolen digital assets through court orders. The service is available on the BSV blockchain and can be extended to other platforms.
-KYC compliance: Require exchanges, managed wallets and service providers to comply with KYC and AML rules, and strengthen the licensing and supervision of investor protection.
-Cooperation with entrusted entities: Dialogue with exchanges and entrusted entities to discuss consumer safety, network flexibility, regulatory compliance, risk transparency and cooperation in the enforcement of court orders.
-Guard against "encrypted casinos": implement supervision to prevent money laundering transactions, ensure full disclosure of investments, and require exchange operators to separate their assets from customers.
-Economic incentives: Encourage legal and government guidance to provide economic incentives for blockchain entrepreneurs, establish a sandbox plan, allow the development of utility-based applications, and establish standards before obtaining full regulatory permission when necessary.
-Howey test: Seek to apply established legal standards and theories, such as Howey test, to eliminate bad actors and increase public trust and confidence.
The letter emphasizes the need to distinguish between cryptocurrency speculation and the effectiveness of blockchain technology, and strive to strike a balance between protecting consumers and promoting innovation. As the industry faces a crossroads in 2023, and as the industry faces a crossroads in 2023, we support the cooperation between the public and private sectors to ensure that different viewpoints provide information for decision-making. Support the mode of cooperation between the public and private sectors, ensure that different viewpoints provide information for decision-making, and put forward many suggestions on regulating the blockchain industry.
-Digital asset recovery: investing in a tool that enables miners and exchanges to recover lost or stolen digital assets through court orders. The service is available on the BSV blockchain and can be extended to other platforms.
-KYC compliance: Require exchanges, managed wallets and service providers to comply with KYC and AML rules, and strengthen the licensing and supervision of investor protection.
-Cooperation with entrusted entities: Dialogue with exchanges and entrusted entities to discuss consumer safety, network flexibility, regulatory compliance, risk transparency and cooperation in the enforcement of court orders.
-Guard against "encrypted casinos": implement supervision to prevent money laundering transactions, ensure full disclosure of investments, and require exchange operators to separate their assets from customers.
-Economic incentives: Encourage legal and government guidance to provide economic incentives for blockchain entrepreneurs, establish a sandbox plan, allow the development of utility-based applications, and establish standards before obtaining full regulatory permission when necessary.
-Howey test: Seek to apply established legal standards and theories, such as Howey test, to eliminate bad actors and increase public trust and confidence.