Proof of State is the Wednesday edition of Fortune Crypto where Leo Schwartz delivers insider insights on policy and regulation.
Crypto regulation in the U.S. is split between two camps. One side, populated mainly by people in the industry, argues that America’s antiquated system of financial oversight is ill-equipped to deal with the burgeoning new technology and that its potential for innovation merits a new set of rules. The other side, with Securities and Exchange Commission Chair Gary Gensler at the helm, holds that U.S. securities law is perfectly adequate, thank you, and that the crypto industry only wants new regulation because the current regime makes it largely illegal.
