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ImTheRippler

Regulators Create Regulatory Sandbox for Crypto and Blockchain Projects in US-First

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23 minutes ago, fiik said:

theR don't need no sandbox 😣

I think its a surprisingly excellent idea, the sandbox referring to the regulatory aspect of crypto, as things mature we can make solid concrete regulations with better information.

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57 minutes ago, ImTheRippler said:

https://toshitimes.com/regulators-create-regulatory-sandbox-for-crypto-and-blockchain-projects-in-us-first/

 

Crypto-Sandbox?  This has a good sound to it, in a smart move to avoid cutting off our nose to spite our face (USA).

Now this is what we want to hear! 

"Regulatory sandboxes are areas in the law where regulation is lowered in order to help foster innovation and creative problem-solving, without companies having to worry about abiding by strict regulations. The practice has been used in Switzerland to foster cryptocurrency development projects in the nation’s crypto-valley."

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Posted (edited)
7 hours ago, ImTheRippler said:

https://toshitimes.com/regulators-create-regulatory-sandbox-for-crypto-and-blockchain-projects-in-us-first/

 

Crypto-Sandbox?  This has a good sound to it, in a smart move to avoid cutting off our nose to spite our face (USA).

 

This is great news...a virtual machine is code run on a real computer that emulates a computer with an operating system that tends to run "sandboxed" or isolated from interacting with the real operating system, so any viruses, trojans, and other problems to the virtual machine tend to be contained within a virtual environment and don't spill into the actual operating environment of the real computer that is running the emulation code.  OK...I'm not a coder, so go easy on me if I didn't hit the nail exactly on the head.

I find it incredible that the regulators are potentially willing to lower protections for investors just to foster and speed up innovation and dialogue with sandboxed crypto projects...if they talk about potentially lowering protection for investors, this is a very surprising development for me. This tells me that they finally get how important this technology is and at the same time, they are trying to stick to regulatory practices that in Jay Clayton's words, "Have made the US stock market the envy of the world" as well as offering support and guidance to crypto projects in a sanboxed environment.  Also, I think they are referring to Zug, Switzerland in the article, one of the most crypto-friendly places around.

Anyway, this is my initial impression without going into more depth about how this will actually work and to what extent the sandboxed environment differs from the real-world environment, regulation wise.

IMO this will speed up adoption significantly because the SEC can see directly within the sandbox how things are progressing without having to wait for investors (middlemen) to call the SEC and complain, allowing I believe for the regulators to give quick and valuable feedback to projects to help guide them in the right direction, regulatorily before things go unchecked in the wild before people complain to the SEC about something, I'm guessing.

 

Some background on Zug and cryptos: http://www.businessinsider.com/what-its-like-in-zug-switzerlands-crypto-valley-2018-6#-7

Found 'Zug' and 'sandbox' referenced in same article. Not so many details, but basic ideas are given, and it gives a little more insight.  I'm sure better articles can be found if more time is spent searching for them: https://www.ethnews.com/zug-switzerlands-crypto-valley

Again, my initial impression and guesswork...I need to look into this more...looks promising though :)

Edited by enrique11

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