Is the Window Closing on US Blockchain Leadership?

The internet “should be a place where government makes every effort … not to stand in the way, to do no harm,” said former President Clinton in 1997.

That was a precursor statement to the release of a seminal report by the U.S. government, called Global Framework for Electronic Commerce. Its central thesis was known as the “Do no harm” policy. It consisted of specific recommendations for not taxing, regulating, or restricting the (then) embryonic and key promise of the internet: global electronic commerce.

The report did not just prescribe a U.S. policy, but also called for all countries of the world to consider the same approach, because it was understood that electronic commerce had no boundaries, therefore its success was inter-dependent on global cooperation.

Historical precedent

Although more than 20 years old, that report is a fascinating read as context for the regulatory drama that is unraveling around the blockchain, today.

Continue Reading on CoinDesk

Like this: Like Loading...