But both lawmakers believe that in the context of today's unclear regulation, the "sandbox" approach may be the best way to help blockchain technology develop. Translation: Ina Some lawmakers said in a May 14 speech at CoinDesk's "Consensus 2018" that regulatory "sandbox" may pro

2025/09/2621:36:35 hotcomm 1589

But both lawmakers believe that in the context of today's unclear regulation, the

日本全日本司: At the "2018 Consensus Conference" hosted by CoinDesk, lawmakers from the United States and the European Union expressed their opinions on the regulation related to blockchain when participating in the group discussion. Although the situation in this regard is not the same as the continental Europeans, both lawmakers believe that the "sandbox" approach may be the best way to help the development of blockchain technology in the context of today's unclear regulation.

Translation: Inna

Some legislators said in a speech at CoinDesk's "2018 Consensus Conference" on May 14 that in the absence of official guidance, regulatory "sandbox" may provide the best way for blockchain innovation.

U.S. House of Representatives Representative David Schweikert said in a panel on global jurisdiction that although the United States has not yet clearly regulated cryptocurrency and blockchain technology, this is not necessarily a bad thing.

He told the attendees:

"One of the biggest concerns in Congress now is that regulation will weaken innovation - so the uncertainty we are in now may actually be beneficial."

He also explained that his Arizona has adopted a regulatory sandbox approach, allowing people and trusted business partners to experiment with innovative applications including blockchain technology in a regulated environment.

In fact, Arizona lawmakers have just begun implementing a bill in April that allows businesses in the state to store their information in blockchain-based systems, which has the potential to create opportunities for wider adoption of the technology.

Meanwhile, the situation in the European continent may be slightly different in advancing blockchain technology, but the region is also considering introducing a regulatory sandbox in the future.

European Parliament Eva Kaili also participated in this panel. She shared her experience in promoting blockchain technology with EU lawmakers and said “In the next few years, we will achieve coordination and launch sandboxes and regulation.”

However, Kaili explained that one obstacle in this work is the lack of awareness among EU lawmakers about blockchain issues.

Kaili said:

"It is very difficult to introduce blockchain technology to every politician... and there are not many scientists in the European Parliament."

However, she also pointed out that despite the difficulties, the EU is adopting this technology to benefit the region:

"We are still striving to get more member states to participate in our work... to eliminate friction and costs, thus ensuring that blockchain technology provides us with excellent solutions."

To achieve this goal, 22 EU member states reached a blockchain cooperation in April this year to exchange information about the technology and create opportunities for adopting blockchain applications in a single market across the EU.

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