The persistent disconnect between policymakers and technology invariably results in proposed and approved regulations overlooking pertinent parts of new technologies. US lawmakers and regulators face the challenge of regulating emerging technologies across blockchain and AI. Policymakers, like Senator Cynthia Lummis, have acknowledged the need for innovation in the financial sector and proposed legislation like the Digital Asset Innovation Act to address concerns. However, the SEC’s recent actions against Ripple Labs highlight the current “regulation-through-enforcement” approach, which critics argue stifles innovation.
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