{"id":5815,"date":"2018-05-21T00:00:00","date_gmt":"2018-05-21T00:00:00","guid":{"rendered":"https:\/\/crypto-economy.com\/2018\/05\/21\/cryptocurrency-internal-regulation-high-on-the-agenda-at-consensus-conference\/"},"modified":"2018-05-21T00:00:00","modified_gmt":"2018-05-21T00:00:00","slug":"cryptocurrency-internal-regulation-high-on-the-agenda-at-consensus-conference","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/cryptocurrency-internal-regulation-high-on-the-agenda-at-consensus-conference\/","title":{"rendered":"Cryptocurrency Internal Regulation On the Agenda at Consensus Conference"},"content":{"rendered":"
The many problems affecting the cryptocurrency industry were among the issues discussed at the Coindesk Consensus 2018<\/a><\/strong> Conference. The direction was a debate on whether self regulation is the best path to alleviating these challenges.<\/p>\n According to one of the speakers, Gary Dewaal, the causal agents of the problems facing the space is that there are no up-to-date laws that are applicable to the new industry. Dewaal, who is a legal expert, described existing laws as \u201cabsolute mess\u201d saying that the situation is not going away soon.<\/p>\n He said,<\/p>\n “The CFTC<\/strong> budget has got cut this year. Even if it wants to regulate cryptocurrencies, it may not have enough resources from Congress to do so.”<\/em><\/p>\n Dewaal seemed to have responded to the remarks made earlier by another speaker, Brian Quintenz<\/strong>, who is a commissioner from US Commodity and Futures Trading Commission (CFTC). Quintenz had said that any decisions to regulate Ethereum must be taken carefully.<\/p>\n