Attention in the US! Growing calls for "rules for crypto assets must be created quickly!"
Hello everyone! I'm John, your blockchain guide. Recently, when watching the news, you often see words like "cryptocurrency" and "blockchain." However, I'm sure there are many people who think, "It seems kind of difficult..." Don't worry! In this blog, I will explain the latest technology news in an easy-to-understand way for everyone.
Well, today I have some important news coming from across the ocean in the US. Apparently, experts are saying that "we need to hurry up and create rules for crypto assets!" What does that mean? Let's take a look together!
What's going on at this meeting of America's great minds?
Recently, a public hearing was held at the Senate Banking Committee, a very important venue that discusses rules on money and banking, which is part of the US Congress. A public hearing is a meeting to hear the opinions of experts and related parties directly and make better decisions.
Those invited to this hearing were people working in the cryptocurrency (a special digital currency or value used on the Internet, such as Bitcoin) industry and digital asset (a broader term that includes cryptocurrency, but refers to digital data with value in general) experts. They all spoke out in unison, saying the following:
"The US needs to enact market mechanics laws for digital assets as soon as possible!"
The phrase "ASAP!" even came up, which makes it clear that they want the process to be quick.
Why the rush? – America no longer a world leader?
So why are experts rushing to create rules like this? There's a big reason.
They are worried that if the US delays creating new laws on digital assets,Rules made by other countries could become the global standard, and America could lose its leadership in this new field., that's what it means.
Let me give you an example. Imagine when the Internet first started to spread. If one country had started to create very easy-to-use Internet services and rules, wouldn't people all over the world have started to imitate that country's methods? Experts believe that something similar could happen in the world of cryptocurrencies and digital assets.
In other words, I'm worried about this trend.
- Rule-making slows in the US
- In the meantime, other countries (such as European and Asian countries) will be able to create more user-friendly rules and a business-friendly environment.
- New technology, talent, and money tend to flock to countries with clear rules.
- As a result, America will not be able to become a global leader in this field, and its influence will weaken.
That's why there are calls for "rules quickly!"
What rules are necessary? – For everyone to use it with peace of mind
What exactly is the "law on the mechanics of the digital asset market" that experts are calling for?
This, in a nutshell,"Rules that will serve as the foundation for everyone to use and trade digital assets with confidence."For example, the following is being discussed:
- Exchange rules:These are rules that allow places where cryptocurrencies are bought and sold (exchanges) to safely manage customers' money.
- Rules to protect investors:Rules to protect people who invest in digital assets from being deceived or losing money.
- What is a "digital asset"?It is important to clarify what constitutes a "digital asset" that is subject to the law. If this is unclear, it will be difficult to know how to handle it.
- Adapting to new technologies:The direction of how to utilize new technologies such as blockchain (a technology that allows everyone to securely record and manage information) in society.
With these rules firmly established, companies will be able to develop new services with peace of mind, and ordinary people may be able to interact with the world of digital assets more safely. Even for those who currently feel "unfamiliar" or "a little scared," once the rules are in place, it may become more familiar to them.
What does this mean for us? – It could set the standard for the future
You might be thinking, "That's an American story. It has nothing to do with us." But actually, that's not the case.
The United States has a great influence on the world in terms of economy and technology. If the United States can establish solid rules for digital assets, it could become the global standard.This may affect the rules that will be created in Japan in the future, and it may also affect how we use overseas services in the future.maybe.
Furthermore, the establishment of rules may make it easier for new, convenient services to be created using digital assets and blockchain technology, which has the potential to enrich our lives even more.
This news is one indication of the major direction and rules under which the new world of digital assets will develop in the future.
John's words
Wow, when new technology emerges, the rules of society change accordingly. It's kind of exciting! Digital assets can be exchanged across borders, so I'm especially curious to see how international rules will be created. I hope that the US's actions will lead to the creation of global standards in a positive way. Let's keep an eye on these new developments!
This article is based on the following original articles and is summarized from the author's perspective:
Panelists at Senate Banking Hearing on Crypto Market
Structure Call for Regulation ASAP