Virginia Cryptocurrency Investors Want Lawmakers to Create Regulation
“Sandbox regulation ultimately provides more consumer protections. According to the Financial Conduct Authority, or FCA, it improves business models in an isolated software environment such as cryptocurrency. The FCA regulates financial services firms and financial markets in the U.K.
Policy such as sandbox regulation helps companies innovate but with oversight. According to FCA, it can build cooperation between the regulator and the companies.
At least 20 other states, including Maryland, have passed blockchain technology legislation. Some states, including Nevada, Arizona, and Utah, have established sandbox regulations. Leffel said it is the newest policy being discussed at the state level.”
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