The cryptocurrency industry needs to work with regulators to design new, more effective regulatory frameworks according to cryptocurrency scholar Duncan Hoffman.

While speaking in a forum at Le Monde, on the regulation of cryptocurrencies in France, cryptocurrency specialist Duncan Hoffman noted the need for cooperation between the cryptocurrency sector and regulators. According to him, it is essential that investors, companies and institutions in the sector understand both how governments regulate cryptocurrencies and how industry leaders can advance the regulation of cryptocurrencies.

Regulators can also take advantage of innovations such as blockchain technology that allows for an unprecedented level of transparency, unlike traditional, highly opaque finance, where regulators go directly to financial institutions to gain access to transaction data.