RockTree LEX shared news on 18 July about the meeting of the Chairman of RockTree LEX with other high-profilers to shape the future laws of Libra, blockchain, and cryptocurrency in the United States.
RockTree LEX commenced by informing that Omer Ozden met up with CEOs of leading blockchain companies, top blockchain lawyers and government officials at the multi-day Congressional Hearings in Washington, D.C. RockTree LEX confessed that it foresees Libra and the Congressional Hearings as another major milestone for the financial industry’s rapid evolution into newer developments.
Omer expressed to the Congressional members –
“U.S. securities laws created in the 1930s, as regulated by the SEC, are inadequate for regulating cryptocurrencies. The rules surrounding commodities under the CFTC are more suitable, and we should look to other governments that have adopted similar commodities-based regulations for cryptocurrencies, such as those in Japan, Switzerland and Singapore. Major disruptive technology advances are inevitable. We have done this so many times in human history; it is how they are managed and embraced that sets one economy’s growth trajectory over another’s. What made America great is the ‘Do No Harm’ approach Congress took towards the Internet in the 1990s. This allowed American Internet companies and technology to grow and, eventually, dominate much of the globe. We need to do the same for Blockchain.”
RockTree LEX asserted that lack of clarity in the US by the SEC has spiraled into many US innovators and large amounts of investment capital leaving the US. The firm indicated the runaway prospects choosing more friendly jurisdictional environments. For instance, Facebook’s move to Switzerland. Omer further advised Congress about the US government lagging behind by a few years would result in a debacle.
In May, news about RockTree LEX CEO saying Wall Street 2.0 was coming captured attention. The CEO also nudged Crypto Fund Managers to get prepared. RockTree LEX was committed to the development of blockchain and finance through legal compliance while believing that ‘Digital Securities’ are the next level of the game-changing blockchain application.
RockTree LEX indicated that Omer informed about an impending danger to Congressional and Senate leaders. Omer opined that while five years ago, the US was the hub of top cryptocurrency exchanges, cryptocurrency mining companies, and technology firm, the trend has changed. RockTree LEX captured Omer’s sentiment that top cryptocurrency opportunities are either in Europe or Asia. Omer stated the perfect precedent of this shift was Huobi.