The regulatory environment surrounding cryptocurrencies is changing in the United States as the SEC targets major players in the web world3, vowing to shake up business as usual with aggressive action.
David Nage is a director in Ark which oversees its early-stage fund with a primary focus on blockchain and digital assets. Swimming notes that the recent downturn has already provided plenty of learnings for players in the space, but notes that some of the biggest blowouts have disproportionately affected retail investors. "I wish we as a society didn't have to learn through failure, but it seems we really do learn through failure and that's the way we grow and prosper."Says Swimming.
Swimming ensures that, while regulatory agencies are pushing for investigations, many venture capitalists just hope that they can provide more guidelines and avenues for new players to operate within legal limits while taking advantage of cryptocurrency's native opportunities. It is the lack of guidance that has led many venture-backed startups to wait and see before launching their own token, he says. Swimming.
“Many of these founders understand that a token could provide obvious utility for distributing and decentralizing company authority and could provide a lot of positive economic incentives for those who participate, but without regulatory clarity they are pushing it in court order for a period of undefined time", says Swimming. "So I think having that clarity could be really helpful for the thousands of founders looking to innovate in the space."
While Swimming he has some complaints about how the regulatory landscape has developed, he also notes that things have still moved faster than he expected. "Think of the crypto winter of 2018, senators would design certain policies regarding digital assets."
