Self-Regulatory Organizations Growing Alongside New U.S. Crypto Regulation
2022.04.19 00:17
Self-Regulatory Organizations Growing Alongside New U.S. Crypto Regulation
As the adoption of crypto takes off, the industry is exerting increasing influence on American society. This can be seen in its lobbying efforts and political action committees, for example, and in its own organizational efforts, such as business associations that promote it at the state, regional and national levels. Another way crypto is influencing society is through self-regulation.
The broader impact of self-regulation may be less apparent than when a PAC finances a political campaign or a startup is nurtured in a crypto industry-sponsored accelerator, and that limited visibility probably reflects the extent of self-regulatory organizations’ (SROs) influence at present. But SROs are helping shape the crypto industry itself, and they may eventually have a role in the crypto regulatory framework that is beginning to come out of the U.S. federal government.
