Brittany Kaiser, the co-founder of The Digital Asset Trade Association (DATA) stated that the biggest issue in the cryptocurrency industry is the lack of legislation. Kaiser is also popular as a previous senior executive at Cambridge Analytica, a firm involved in an International controversy over its collecting of the data of millions of Facebook users, who told to the media about how the company operated.
Meanwhile, Brittany is now focusing on the blockchain space and currently working on different projects. One of these projects is DATA, an advocacy organization for distributed ledger technology. Kaiser explained that the lack of legislation is not helpful for entrepreneurs to fully understand the rules that they are playing.
Kaiser added that it only means that there is a bit of stifling of innovation. Thus, they are not sure what they are allowed to do and in what jurisdictions they are going to be comfortable. It is also estimated that in the next 6 to 12 months, several countries will start to create legislation possibly for the first time or they will change the already existing negative legislation.
Negative legislation is the reason why some crypto startups fail and falter. Kaiser said that the entrepreneurs must understand their rules and regulations when it comes to operating their crypto business.
Also, entrepreneurs are also advised to operate their business with vigor and dedication. Thus, the business requires more versatility and flexibility in different aspects. More innovative techniques are necessary to operate successfully in the field of cryptocurrency. When the negative legislation is changed, there will be more chances of success among the crypto business aspirants.
Kaiser implied that the industry of crypto already reached a tipping point, wherein they are not going to be a sideline anymore, something that may not disappear or fail. According to her, it is very important that the industry has a statement of what it can innovate and grow.
Also, she has remarkable advice for the crypto startups. This advice is stated as,” Always have a good set of lawyers. Don’t just talk to one.” This advice only suggests that to succeed in the world of cryptocurrency, you must develop more innovative and alternative solutions to make the most out of your crypto business.
Having good lawyers and excellent legislation is one of the most important factors to succeed in the field of crypto.
