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Digital assets such as Non-Fungible Tokens (NFTs) and crypto currencies are innovative products, removing transactional boarders, enabling digital transactions. Over the past 12 months crypto currencies have been price volatile, consumer protections and security and the volume of cash flowing into the NFT marketplace has got the attention of National Governments, their regulators and central banks.
As an example, the Russian Central Bank has proposed an outright ban on crypto exchanges, the use and mining of crypto currencies on their territories. In a similar move by China in 2021.
Citing ‘crypto assets becoming widespread would limit the sovereignty of monetary policy, with higher interest rates needed to contain inflation……….crypto mining created problems for energy consumption’.
Crypto and NFT regulation is getting closer. Last weeks interview with the Chairman of the SEC was more striking by what wasn’t said than what was, about digital assets.
#cryptocurrency #cryptoregulation #cryptoassets #crypto #nft #cyberlaw #consumerprotection #regulations #cryptoregulation
#cybersecurity‚Â #cyberriskmanagement‚Â #compliance‚Â #regulatorycompliance‚Â #regulatoryoversight‚Â #regulation
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