Bracewell’s Anne Termine recently told Cointelegraph that “there are no easy answers” on the crypto regulatory front, but the sheer amount of money invested in the crypto space now is causing the regulatory dialogue to occur at a more frenetic pace.
“In any industry, innovation comes first and regulation comes after. What’s happening here is that the innovation is happening at such a speed that the regulators are struggling to keep up,” said Termine.
She also addressed the questions surrounding lending, saying some in the crypto community argue, “Just because we’re offering a product that’s better than what banks can offer doesn’t make us illegitimate … it doesn’t mean we’re an outright fraud.”
And not all crypto protocols should be tarred with the same brush, Termine added. The big actors in the space are often fairly sophisticated companies that take consumer protection seriously.