Blockchain Association Releases Consensus Position on Digital Market Structure Policies
Blockchain Association released its “consensus position” on digital market structure policies, reflecting optimism for pro-crypto legislative progress. Key points include:
- A regulatory framework to establish the US as a hub for investment and technology.
- Protection of self-custody rights for digital assets using non-custodial wallets.
- Focus on regulating specific activities rather than foundational infrastructure.
- Liability protection for developers of open-source software used by bad actors.
- Clear classifications for tokens, distinguishing between securities, commodities, and other asset types.
The association emphasizes the need for precise regulations that protect foundational blockchain technology while addressing financial activities. The SEC's new crypto task force signifies potential change, but the effectiveness of forthcoming congressional legislation remains to be seen.