Cryptohaters to Unite at First Crypto Skeptics Conference
During cryptocurrency's recent bear market, industry and asset class critics came together to share their doubts and network with lawmakers at their own anti-cryptocurrency conference.
While most crypto conferences exist to promote the latest developments on the cutting edge of the industry, cryptocurrency review reporter Amy Castor said in her July 3 blog post that the crypto policy symposium provided disaffected naysayers with a A way of expressing their negative emotions.
Author and workshop organizer Stephen Diehl explained to Castor that this is the first major anti-encryption event aimed at providing a way for the community to speak directly to policymakers about how they think the crypto industry should be viewed.
“As Diehl explained to me, the main goal of the workshop is to equip policymakers with the information and materials they need to make informed decisions about cryptocurrency regulation.”
A common perception among skeptics such as Castor and cryptocurrency proponents is that government officials lack a solid foundational understanding of how cryptocurrencies work. As Castor noted, government officials were "completely uninformed." The parallels may end there, as proponents will tout the benefits of the technology and the industry. Instead, skeptics will point to downsides, like what Castor calls “the current DeFi domino collapse.”
Castor complained that policymakers are mostly hearing about “well-funded crypto companies backed by large numbers of venture capitalists” that could distort their policy decisions. Despite her assessment, the crypto industry appears to be struggling to move forward in many jurisdictions, such as New York state, where a bitcoin mining ban is looming.
In China, mining and crypto trading are completely banned, and in Australia, crypto financial services remain frozen by regulators, with little or no progress.
Members of government regulators and financial institutions from the US and Europe have been invited to attend the event. It was unclear, however, whether any government officials had been confirmed as guests. Only journalists, software engineers and several professors are confirmed speakers.
The workshop will take place in London on 5 and 6 September and will be live-streamed.