Cointelegraph’s managing editor Alex Cohen interviewed Figment’s staking advertising and marketing director Robert Ellison on the European Blockchain Conference (EBC) 2022. The duo mentioned matters like educating regulators on blockchain and crypto, how companies navigate unsure regulatory landscapes and regulating staking.
In line with Ellision, it is crucial to coach regulators within the house to mitigate the dangers of them going overboard with out understanding the fundamentals. The Figment govt talked about that clear understanding is essential due to the difficult nature of the house. He defined that:
“That is the battle we’re preventing, and it is fascinating to see that stability geopolitically to some nations versus others, and we hope that they only actually hear and study.”
Other than educating regulators, the duo additionally spoke about how companies navigate the house amid regulatory uncertainty. Some corporations choose to go forward with their tasks and would reasonably apologize later reasonably than permission upfront. Ellison stated that:
“I believe that is a enterprise sentiment the place you apologize. You are not going to attend. You’ll be able to’t wait. You bought to maneuver ahead. A few of that’s extra dangerous.”
Ellison additionally commented that some areas present extra certainty for companies than others. Citing wrapped property for instance, the Figment govt defined that when you’re in America, entering into wrapped property is a “riskier transfer” since you’re undecided if it could get regulated quickly.
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When requested if a regulatory framework is critical for staking to go mainstream, Ellison famous {that a} framework for staking could be very achievable. Nevertheless, the staking advertising and marketing director stated that laws for staking usually are not a precedence for regulators. He highlighted that:
“It’s achievable as a result of staking itself is kind of straightforward to know in some regards of what you are really doing. However to reply your second query, I really do not assume it is a precedence in any respect.”
In line with Ellison, lending platforms and stablecoins are at the moment on the listing of priorities for regulators. He famous that at the moment, staking just isn’t on that precedence listing as regulators put “what’s the most threat to the general public” on their focus first earlier than they transfer on to the much less dangerous points of crypto.
