Ahead of the People’s Regulatory Roundtable at Consensus 2025, crypto lawyers discuss crucial values like decentralization and privacy in the face of regulatory changes. The panelists argue for a balance between innovation and consumer protection, highlighting potential positive impacts of regulation in the crypto space.
As we approach the People’s Regulatory Roundtable at Consensus 2025, a group of six prominent crypto lawyers share their insights on how fundamental crypto values, such as decentralization and privacy, may influence forthcoming legislation. The intersection of crypto and regulations is strife with both concern and optimism about potential developments in the industry.
CoinDesk facilitated a discussion with the panelists, who represent a wealth of experience in crypto law and regulation. They will delve into crucial topics regarding regulatory measures and the preservation of crypto values during the roundtable happening on May 14 at 10 a.m. on the Spotlight Stage, moderated by Ivo Entchev.
Kayvan Sadeghi stresses individual freedom and sovereignty as essential principles of crypto. He argues that technological advancements should focus on improving existing legal objectives, highlighting the inadequacies of human intermediaries that lead to abuse. He likens these problems to relying on stricter laws to tackle drunk driving instead of considering autonomous vehicles as a better solution.
Connor Spelliscy suggests that blockchain technology can enhance transparency and reliability for users, granted that regulatory frameworks support decentralization. He mentions the potential of blockchain beyond finance, including social media and digital identity protocols, which empower users with greater control. His team is working on defining decentralisation under the law to push for lower regulatory burdens.
Lewis Cohen highlights that the diverse community of crypto users and developers drives meaningful innovation. He believes that the true essence of crypto tools stems from contributions made by individuals, not large corporations. It’s crucial to remain focused on this aspect as regulation evolves.
Michelle Ann Gitlitz emphasises the significance of decentralisation in facilitating digital ownership and transactions. She insists that effective regulatory measures must arise from a solid understanding of blockchain intricacies to safeguard consumers from financial crimes. At the same time, legislation should ensure decentralisation to maintain the original ethos of crypto.
David Adlerstein, a corporate lawyer with over 20 years of experience, advocates for free markets and believes that the core principles of recognized property rights and freedom of contract are at the heart of cryptocurrency values. He draws parallels between the regulatory safeguards for emerging technologies in the past and the current landscape of cryptocurrency.
In discussing the impact of regulation on business models, Kayvan mentions that sensible rules could greatly benefit community-driven businesses. Properly crafted regulations can empower creators, allowing them to gain capital directly and create beneficial network effects. Meanwhile, Connor expresses some optimism that clearer regulations could further interest institutional players in blockchain. However, he acknowledges that potential significant projects might still face scaling problems until new legislative measures are in place.
Lewis reminds us that effective regulations should be adaptable and reactive to innovations, much like the evolution of automobile travel. While they may restrict certain aspects, regulations should ultimately facilitate the safer and quicker progression of technology.
Michelle, with her extensive experience, sees both challenges and opportunities. She points out that more projects are prioritising compliance today, thanks to more thoughtful regulatory frameworks. Regulation could pave the way for RegTech solutions, streamlining compliance processes, and offering crypto companies competitive advantages over traditional finance.
David expresses enthusiasm for stablecoins and asset tokenization. He believes these innovations will strengthen commerce, allowing faster payments and expanding access for the unbanked. He stresses the importance of creating appropriate stablecoin regulations to manage risks and promote interoperability in the ecosystem.
The opinions shared in this discussion reflect a blend of hope and caution as the crypto industry faces regulatory changes, highlighting a common desire to ensure technological freedom while promoting consumer protection.
(Note: The views expressed in this article are those of the various contributing authors and do not reflect those of CoinDesk, Inc. or its affiliates.)
