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Why Is the US Struggling to Keep Up with Other Nations from a Regulatory Perspective?

Bill Taylor, Chief Investment Officer, Fintek Capital LLC, discusses one of the key obstacles facing US regulators: its difficulty in defining this nascent asset class and distinguishing cryptocurrencies from digital assets.


Transcript

Dara Albright: Do you sense, Bill, that U.S. regulations are at least starting to catch up right now, or are we that far behind?

Bill Taylor: I think they are beginning to start catching up. There is awareness that there is a brand new asset class out there. They're having trouble, in my opinion, defining what that is. They put everything in one big box (cryptocurrencies) without realizing they can be a worthless token. Nobody has. It could be Bitcoin, Bitcoin cash, that has genuine use, or there's a digital asset that's totally different than cryptocurrency. A digital asset is a token, the smart contract based upon the blockchain that is backed by a physical asset, whether it be real estate, a collectible, gold or metals, whatever it is, that's a digital asset.


Dara Albright is a recognized thought provoker, advisor, author, and speaker on topics relating to fintech, digital finance, cryptofinance, peerfinance, crowdfinance topics, IPO execution, investment banking and corporate communications.

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