Crypto Research Group Advocate Federal Digital Asset Regulation
Researchers at CoinCenter are in favour of a federal level regulatory framework to overlook intermediaries doing business with crypto assets in the United States. The non-profit organisation argues that the existing state-by-state regulations are a mess and that differing approaches in different jurisdictions limit the innovative potential of the industry.
CoinCenter proposes an optional federal licence issued by the Commodities Futures Trading Commission. This would allow for greater oversight to prevent against manipulation and fraud.
CoinCenter: Greater Regulatory Clarity Needed for Crypto
The CoinCenter cryptocurrency research organisation has recommendations that it believes would make for a fair regulatory framework to govern intermediaries dealing with digital assets at the federal level. In the post, CoinCenter writes that the current state-by-state approach to regulation does not fit the cryptocurrency market:
“… the lack of uniformity amongst state licensing laws, coupled with confusing language drafted long before cryptocurrency technologies existed, presents a real barrier to innovation.”
Other nations, like , for example, have been proactive in creating crypto asset-specific regulations and have benefited from an of digital currency startups setting up shop there.