At the Bitcoin 2023 event in Miami on May 18, a discussion was held regarding government regulation and the cryptocurrency industry’s defense against the “anti-crypto army.” Moderated by co-founder of the Bitcoin Policy Institute, David Zell, the “Fighting The Anti-Crypto Army” panel comprised of Perianne Boring, founder and CEO at the Chamber of Digital Commerce; Mina Khattak, senior director of crypto and Web3 at Worldpay; and Dana Syracuse, a partner at law firm Perkins Coie. The three speakers agreed that regulatory issues posed a major concern for the crypto industry.
Boring discussed the present regulatory landscape and its contentious nature, citing recent scandals as bad press for the industry, which in turn provides ammo for regulators to crack down. She added that some politicians are against the proliferation of crypto tech because it challenges their vision for controlled digital assets. However, Boring expressed confidence that the challenges would be surmountable, stating that Bitcoin truly represents American values as it allows people to have ownership and control of their assets.
Syracuse followed up on Boring’s statements, agreeing that overcoming the challenges required collaboration between the industry and regulators. He also contended that “even couching [the issue] in those rhetorical terms is dangerous at the end of the day,” rejecting the notion that it was a fight.
Khattak spoke about the challenges of crypto regulation and said the ever-shifting regulatory landscape threatened reputational risk for a Web2 company. She advised that education and collaboration were the most important ways to move forward with regulators.
The discussion on government regulation ended with the panelists agreeing that it was essential for the industry to be proactive in collaborating with regulators instead of taking an antagonistic position.