Wharton Professor Speaks Out On Cryptocurrency Regulation
During the first edition of the Ripple experts event, prof. Kevin Werbach of Wharton university Philadelphia said there is a need for more trust in the crypto space. The professor warned that the cryptocurrency industry needs to assure the general public that bad actors would be handled. Furthermore, he said cryptocurrency ecosystem should become an environment with more economic and regulatory clarity.
“We need to get to a place where there’s broad trust in the entire ecosystem. We need confidence that the bad actors will be addressed, an environment where there is more economic and regulatory clarity,” said Prof; Kevin Werbach
Meanwhile, many major cryptocurrency companies in the united states now appear to follow Prof. Werbach dream, many companies still lag behind. For a long time, bad actors infiltrated the cryptocurrency ecosystem appearing as investment opportunities. These scammers would often disappear with millions of dollars of user funds.
Crypto-Enthusiast Agrees with Prof. Kevins Statement
According to the comments to the update of the Experts Views event posted on Twitter by Ripple, many people seem to agree with Kevins Assertion. A user commented to the post revealed that economic and regulatory clarity is exactly what the consumers need. He continued applauding Ripple for leading such as discussion.
"We need to get to a place where there’s broad trust in the entire ecosystem. We need confidence that the bad actors will be addressed, an environment where there is more economic and regulatory clarity."
– @Wharton Prof. @kwerb on #blockchain at Ripple’s first Expert Views event pic.twitter.com/nOhg65tndg
— Ripple (@Ripple) December 13, 2018
Another user reminded that the US government is already doing the same to fight fraudulent exchanges and token issuers. He continued stating that the US government could have not given the kind of announcements the retail market wants yet. However, he is certain that the government actions are in line with the requirements of institutional markets.
Meanwhile, the approval of the Bitcoin exchange-traded futures which are believed to be the only remaining lock to institutional adoption is stood as null. However, the US Security and Exchange commision recently revealed that there were issues to be clarified before granting the first Bitcoin ETF. We are yet the see the steps SEC takes towards Bitcoin ETC this coming year.
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