Not All Regulation is Created Equally - TOKEN2049 Singapore 2022
In this enlightening session from TOKEN2049 Singapore 2022, Oliver Lynch, CEO of Bittrex Global, explores the complex landscape of cryptocurrency regulation, urging the crypto community to scrutinize claims of regulatory compliance critically. Titled "Not All Regulation is Created Equally," Lynch's talk underscores the importance of understanding where and how crypto entities are regulated and the implications for the industry's safety and trustworthiness.
Lynch begins by recounting the journey of Bittrex Global, established in 2012 on pillars of security, innovation, and regulation. He highlights the initial resistance to regulation in the crypto world, a stark contrast to today’s frequent claims of regulatory adherence by many crypto platforms. However, Lynch cautions that not all regulations are equal, warning against superficial regulatory compliance aimed merely at gaining media attention or investor trust without real substance.
He emphasizes that true regulatory adherence involves rigorous processes, continuous oversight, and a sincere commitment to uphold high standards that assure both retail and professional investors of crypto’s legitimacy. Lynch calls on the audience to question what regulation means for any entity claiming compliance, and to demand transparency about how these standards are met and maintained.
By sharing insights into Bittrex Global's regulatory experiences in Europe and Bermuda, Lynch advocates for thorough and meaningful regulation tailored specifically to crypto’s unique challenges. He concludes with a compelling call for the crypto community, including journalists and investors, to hold the industry accountable for genuine regulatory practices.
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