Are We Dropping the Web3 & Crypto Legislation Ball?
FUTURE OF THE WORLD - Edition 24
Hi everyone,
Blockchain technology, cryptocurrencies, and web3 can solve many complex and intractable problems.
But for the mainstream public to access these new technologies, there must be support from our political representatives.
In today’s edition, we learn how vital legislation is for innovation and what needs to happen in DC for web3 to succeed.
Hope you enjoy it.
Cheers!
Misha
Here’s what you’re getting today:
Act: The legislation that made the internet
Study: The impact of regulation on innovation
Tweet: Congress needs to do its job
Podcast: Crypto policy & regulation with a16zcrypto
Podcast: EU crypto regulation
Event: Does the web3 community have a role to play?
Act:
The High Performance Computing Act 1991
The internet would never have happened without critical legislative support.
The High Performance Computing Act of 1991, also known as the Gore Bill, opened the internet to the public and invested $600 million in its development.
Without it, the internet would have remained the domain of academia and government.
In 2023, we need similar action from Congress if we are to expand the adoption of web3 and crypto.
Click on the link below to find the full HPCA.
The High Performance Computing Act of 1991
Study:
The impact_of_regulation_on_innovation.pdf (harvard.edu)
There is considerable literature on the economic impacts of regulations, but relatively few studies on the impact of regulation on technological innovation.
Most analyses focus on the static costs (and benefits) of regulation rather than on its dynamic effects. Yet these potential effects on innovation and growth are likely to be much more important in the long run.
This study by Philippe Aghion of College de France and LSE, Antonin Bergeaud of Banque de France, and John Van Reenen of MIT and the Centre for Economic Performance, LSE demonstrates the impact legislation has on innovation.
Tweet:
Coinbase CEO, Brian Armstrong, calls on Congress to take action on crypto.
With the EU, UK, and Hong Kong gearing up to pass bills on crypto, the US stands to lose its position as the global tech innovation leader.
And more importantly, the public could lose access to life-changing technology.
We need swift and appropriate action and a crypto policy that supports the incredible work of the founders, builders, and investors in web3.
Podcast:
Crypto Policy & Regulation: What's Going On? | web3 with a16z crypto
Miles Jennings, Brian Quintenz, Collin McCune, and host Sonal Chokshi give an overview of policy and regulation in crypto & web3.
You will get the current lay of the land to pulse checks on sentiment; share frameworks for policymakers and quick guidance on how things work, and dig into the mindsets, myths, debates, and nuances around the topic.
Crypto Policy & Regulation: What's Going On? | web3 with a16z crypto
Podcast:
EU MiCA Bill with Bankless Podcast
There is a landmark crypto bill over in the EU called MiCA (Markets in Crypto-Assets) and it’s worth paying attention to!
Learn about the current state of regulation in Europe, and why the EU may become the de facto global regulator of crypto.
Event:
Web3 & Crypto Regulation Update & What the Community Can Do
Join me for a Twitter Spaces on Monday, February 27th, at noon Pacific Time.
I will chat with Brett Quick of the Crypto Council for Innovation, Brian Quintenz of a16zcrypto, Rebecca Rettig of Polygon Labs, and Seth Hertlein of Ledger.
We will learn about policy developments in the UK, Europe, the rest of the world, and California.
And I want to know about the role that the web3 community can play.
Click on the link to set your reminder.
Web3 & Crypto Regulation Update & What the Community Can Do
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If you share it on social media, tag me on Twitter so I can thank you.