In what has been a turbulent few months for digital currencies, Joe Biden’s inauguration as the 46th president of the United States has brought a potentially valuable gift to the wider blockchain industry. The confirmation of the former chair of the Commodity Futures Trading Commission, Gary Gensler to head up the Securities and Exchange Commission (SEC) is a significant step towards challenging the argument against governmental blockchain regulations, thanks to his extensive knowledge of the industry.
While the blockchain industry is maturing at an unprecedented rate, there is still plenty of skepticism from regulators around the world. The untenable and short-sighted regulations on blockchain proposed by the previous U.S. administration won’t disappear overnight, and education, demonstration, and perseverance will be the trifecta that will result in governments finally embracing a decentralized financial system.
