By Daniel Ikenson. (Forbes). August 21, 2024.
Two seismic events in 2024 may prove beneficial to investors in blockchain applications and the future of technology innovation in the United States. First, the Supreme Court’s overruling the 40-year-old “Chevron Doctrine” marks the beginning of a process that will restore greater clarity and consistency to the regulatory environment. Second, Vice President Kamala Harris’s rise to the top of the Democratic ticket provides fresh opportunities for her and her party and to fully grasp the importance and vitality of these industries to the U.S. economy and establish, reset, and cultivate relationships with its superlative entrepreneurs and innovators.
Cryptocurrencies and other blockchain technologies have weathered a long period of regulatory uncertainty (and persecution), which has had the effect of stunting innovation and chasing investment dollars to more welcoming foreign shores. Fortunately, in 2024, there has been increasing bipartisan receptivity to the conclusion that these industries have been unfairly demonized by certain regulator and politicians, but should be nurtured instead. Democrats must build on their small, but laudable, legislative efforts this year to provide blockchain innovators the regulatory and legal clarity to develop their networks and expand their research. If the blockchain economy is permitted to grow to its full potential, the benefits to the U.S. economy will be sizeable.
Read the full piece here: Forbes.