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Regulators need to think fast in cryptocurrency era
In the rapidly evolving world of cryptocurrency and blockchain technology, regulators have to become very curious and adapt on the fly by using existing statutes, Livia Benisty said.
Ms. Benisty is the head of financial crime at ComplyAdvantage, a regtech startup eliminating financial crime by empowering organizations to more quickly make intelligent risk decisions.
The SEC was put in a tough position as the cryptocurrency industry began to grow, Ms. Benisty said. They did not want to stifle its growth but the also wanted to protect market participants. They were forced to act as the hype grew around Bitcoin and ICOs.