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We need less regulation not more: Bruce Fenton demands

In the last Security Token Summit, Bruce Fenton stated that regulations on the cryptocurrency industry should not be increased, rather it should be decreased. 

 

Bruce Fenton, who is running for the United States Senate representing New Hampshire and the founder and CEO of Chainstone Labs took the stage by storm at the 4th Annual Security Token Summit 2022 during an exclusive session to discuss the government regulations on the cryptocurrency industry.

 

Upon being asked if stablecoins needed more regulations like FDIC insurance, Bruce said “I don't think we need any new regulations on these things. I think we should have fewer regulations, as regulations have a price.” According to him, the entire cryptocurrency industry should not be caged with more and more regulations fearing it would go on to hamper one of the fastest-growing, most exciting industries in the world. As an example, Bruce talked about how the 1933 act did not work all this time and how it still concerns those who are planning to raise money and set up a business.

There could be people when we're long dead who are still suffering from the regulations just as we have people now who are suffering from the regulations,” Bruce added while reaffirming his stance against more regulations. 

 

Produced by Blockchain Venture Studio Draper Goren Holm, Security Token Summit is a high-end, Security Token & Digital Securities focused event. It features a robust agenda spanning a variety of themes such as custody, compliance, regulation, investing, marketing, tokenization, standards, issuance, and real estate.

 

About Bruce Fenton:

Founder & CEO of Chainstone Labs, an investment and advisory company focused on the intersection of securities and Bitcoin. Cypherpunk Stockbroker & Managing Director at Watchdog Capital, an SEC-registered and FINRA member broker-dealer. Founder of Atlantic Financial, a registered investment advisory; with over 28 years as a licensed financial professional. Co-host of the Satoshi Roundtable, an annual retreat that gathers developers, CEOs, founders, academics, and investors, now in its 8th year. Bruce has been in Bitcoin full-time since 2013. He has served as the Executive Director and board member for the Bitcoin Foundation, founded the original Bitcoin Association industry group, and has spoken at numerous industry conferences. He is the founder of the Dubai Bitcoin Conference, a Devcore organizer, and an active investor. Bruce is running for United States Senate representing New Hampshire.

 

About Draper Goren Holm

Draper Goren Holm, a partnership between Tim Draper, Alon Goren, and Josef Holm, is a venture studio and fund focused on accelerating and incubating early-stage blockchain and fintech startups, while simultaneously producing the industry’s top cryptocurrency events, Security Token Summit, Global DeFi Summit, and LA Blockchain Summit. Portfolio companies include LunarCRUSH, Return, H2Crypto, Tezos Stable Technologies, Totle, Ownera, Degens, Giftz, Vertalo, CasperLabs, Rivet, Simetria, and more. More information can be found at https://drapergorenholm.com.