Last week at the MIT Bitcoin Expo event, former CFTC president and Harvard Kennedy School Research Assistant Timothy Massad met. In the event, Massad’s views on the regulation of crypto assets, user privacy and the state’s surveillance activities on the network were examined.
Timothy Massad
Between 2014-2017, MASSAD was president of the US Commodity and Futures Trade Commission, while Bitcoin took part in gaining commodity status. Massad, who continued to work as a research assistant at Harvard Kennedy School in his current position, has carried his previous experiences to discussions about the future of crypto beings.
Regulatory approach and confidentiality
Massad argues that users’ financial information should be preserved during crypto assets. At the same time, in order to ensure public order, the state emphasizes the necessity of monitoring and detecting suspicious transactions. Balance between these two approaches is a significant difficulty for organizers in the sector.
Massad pointed out the simplicity of daily operations with crypto assets, for example, it is important that account balances and all transaction history are not visible in a coffee purchase. It was emphasized that regulatory institutions and technology developers should be in joint work.
Timothy Massad: “It is necessary to keep personal financial information confidential during the procedures for the protection of privacy. The innovation that will balance the technology can be the key to the success sought for the sector.”
Massad’s views are at the center of discussions on the regulation of crypto beings. With this approach, which is expressed in Bloomberg and the first Senate Banking Sub -Committee session, it is observed that the sensitive balance between user privacy and state control is highlighted.
The importance of the issue is manifested in the debates on the protection of the security and privacy of crypto transactions. It is stated that stakeholders and regulatory institutions in the sector should meet on a common ground within the framework of technological innovations.
In the text, the search for balance between regulatory approaches to the future of digital assets and innovation; It is emphasized that the discussion continues rather than reaching the definitive conclusions.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
