Regulation is an essential element in the crypto space, and this can always bring enhanced trust.
More trust means more investors in the space and especially institutional money.
And the institutional investments are the key to crypto mass adoption. Ripple has a while ago that they are not against regulation, on the contrary.
Etheruem and Ripple working towards setting regulation in NYC
Ethereum co-founder Joseph Lubin and Ripple director of regulatory relations Ryan Zagone have been reportedly appointed to NYC’s new Digital Currency Taskforce.
This is a group that’s set to help New York lawmakers shape the regulatory environment for crypto and blockchain in the city.
These two important figures are joining 13 more essential names who will serve on the taskforce.
The Daily Hodl notes that they are “six appointed by the legislature and seven appointed by the governor.”
At the moment, the legislature has released the list of appointees, which includes the following names as listed by the online publication mentioned above:
Sandra Ro, CEO of the Global Blockchain Business Council
Yaya Fanusie, an adjunct fellow for The Foundation for Defense of Democracies
Yorke Rhodes, co-founder of blockchain at Microsoft
Aaron Wright, professor at Cordoza School of Law
Shaping the crypto and blockchain regulation
Assemblymember Clyde Vanel unveiled the six legislative selections for the taskforce which was created in January.
“We are excited that we’re going to have some of the premier people in blockchain technology and in cryptocurrency help guide New York state and the country, and maybe the world, on finding the right level of regulations in this space.”
Vanel said that they are excited to have such important names on board who are going to help guide the NYC and the country, “and maybe the world” on finding the appropriate regulation for the crypto and blockchain space.