Blockchain Revolution

Governments, Regulators, and Law Enforcement
Governments all over the world are uncoordinated in their approach—some favoring
laissez-faire policy, others diving in with new rules and regulations such as the
BitLicense in New York. Some regimes are openly hostile, though this is increasingly
a fringe response. Likewise, the industry is splitting into factions, those who support
the new rules and those who do not. Even those who resist government intervention
acknowledge that their enthusiasm to wade into governance debates is a net positive.
Adam Draper, a prolific VC in the industry, acknowledged, albeit reluctantly,
“Government endorsement creates institutional endorsement, which has value.”
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Central banks globally are each taking different steps to understand this technology.
Benjamin Lawsky, former superintendent of financial services for the State of New
York, said strong regulations are the first step toward industry growth.
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