December 5th 2017 was the date when the Mission Bay Conference Center in San Francisco hosted an event that gathered all the cryptocurrency fanatics, investors and enthusiasts both wearing suits, hoodies and everything in between. This event showed the new generation of the cryptocurrency world and predicted a lot of things.
Token Summit II is the name of the event that occurred in San Francisco a couple of days ago, where experts from every corner of the industry gathered to discuss the Bitcoin government regulation, cryptocurrency initiatives as well as the future of blockchain and to where it leads.
Cryptocurrency Regulation As The First Topic On The Crypto Summit
First on the list was the regulation, discussed by several board members at Coinbase, the CEO and managing director of Element and a partner at Perkins Cole – all demystifying and debating the looming government regulation.
Some of the common questions from visitors were “Which regulatory agency should investors focus on? Are tokens securities? Will there be new regulation or does the existing one suffice?” and similar ones.
According to the experts who were doing the talking, new regulation has to be part of the future of cryptocurrencies and it is up to federal and state regulatory agencies such as the DOJ to intervene. As for the tokens and securities, it is something that the government hasn’t yet figured out.
However, an utopian scenario in terms of crypto regulation would entail a new regulatory scheme that specializes in blockchain technology and tokenization.
Is The Concept OF A Crypto Valley Possible?
When asked about the cryptocurrencies being used in the Valley, a lot of people agreed that it can be the future of how things go over there. Pointing to the fact that the Valley already produced 10+ large scale ICOs with 40+ new in the process and 170+ in the pipeline, it is certainly an effort that is scratching the surface of possibilities.
Unlike many other ecosystems, the Crypto Valley can be the ultimate place where entrepreneurs can find every possible resource within a 30-mile radius. However, the plan has not been brought up yet by any officials – leaving us to only waiting and thinking about it.
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