Merav Ozair, a leading global expert on blockchain and cryptocurrency at the Rutgers Business School, is available to discuss the Biden administration’s executive order on cryptocurrency expected this week.
“Cryptocurrency and blockchain technology regulation in the U.S. has been expected,” said Ozair. “Other countries have already been looking into these regulatory issues. The approaches have varied from very progressive like in Japan, Switzerland or Malta to other extremes such as banning and making crypto illegal like in China or India. The E.U. and U.K., who have been investigating the space and formulating proposals, fall between these extremes. It was only a matter of time before the U.S. would join the E.U. and the U.K. and take a serious stance on investigating how to regulate the crypto and blockchain space.
Ozair continued, “For blockchain technology and its various applications, including NFTs, DeFi and DAOs, to become mainstream, regulatory certainty in this space is imperative. However, regulation of this space must be done smartly, making sure regulation does not impede innovation but rather stimulates it. Blockchain technology has many facets, which all must be examined and evaluated, in a comprehensive manner. Thus, I am encouraged to see the U.S. administration taking a holistic approach involving different state departments and regulatory agencies, and investigating the various aspects of blockchain technology, including privacy and environmental implications. I am especially encouraged that the U.S. government will also coordinate with other countries worldwide, which is key. Blockchain applications are cross-border and global standardization of crypto regulations might be the better way to approach it. I suggest countries around the world create a global sandbox, where we all work together with industry participants and regulators, and create a trusted environment for a progressive, innovative regulation for blockchain technology.”
Ozair is a fintech professor at Rutgers Business School, with a background of a data scientist and a quat strategist. She has in-depth knowledge and experience in global financial markets and its market microstructure. Ozair researches distributed ledger technology (DLT) and blockchain ecosystems, digital assets, crypto markets and specifically, decentralized finance (DeFi), including non-fungible tokens (NFTs) and decentralized autonomous organizations (DAOs).
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