Jean-Pierre Landau Opposes Cryptocurrency Regulation
Jean-Pierre Landau published a report discussing the unrequired regulation of cryptocurrency technology. In the one hundred plus page of his report, he discusses both aspects of technological and monetary innovation.
Further points that Landau discusses are excessive regulations and laws enforced on the technology would provoke a triple threat. As per the report, he states that innovation and development will advance at a slow pace under regulations and law as one of the three hindering factors.
Another problem is the failure to classify and define cryptocurrency will prove difficult to apply the proper and necessary regulations. Innovation will eventually see itself shy away from regulations and other similar situations should it prove to be restrictive.
Jean-Pierre believes that regulations should be more considerate towards developing technology and pay more attention to those using it then the tech itself.
Landau is also an avid supporter of less-excessive regulations regarding cryptocurrency exchange principles. As reports indicate to a possible license for crypto operations within Europe, concerns continue rising over additional regulations.
The report also explains the difference between technological and financial innovation, addressing both concepts individually. Landau states that more support and adoption of technological innovation should happen while expressing caution towards the financial concept.
His report suggests that the correct decision would be to allow and support cryptocurrencies today and allow the technology to evolve freely while taking the necessary precautions.