Self-regulatory organizations growing alongside new US crypto regulation
2022.04.20 00:41
Self-regulatory organizations growing alongside new US crypto regulation
As adoption takes off, the crypto industry is exerting increasing influence on American society. This can be seen in its lobbying efforts and political action committees, for example, as well as its own organizational efforts, such as forming business associations that promote crypto at the state, regional and national levels. Yet 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 the influence of self-regulatory organizations (SROs) 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 United States federal government.
