Former New York Governor Andrew Cuomo is sounding the alarm on the need for timely regulation of the blockchain industry in the US. In a recent warning to Congress, Cuomo emphasized that the lack of clear guidelines is hindering the growth of this rapidly evolving sector, which has the potential to revolutionize the way financial transactions are conducted. If left unregulated, Cuomo fears that families and individuals could be left to bear the brunt of excessive fees and uncertainty associated with unregulated blockchain services. By implementing comprehensive regulations, Cuomo believes that the US can unlock the full potential of blockchain technology, leading to cost savings and increased efficiency for consumers.
Andrew Cuomo warns Congress is running out of time on blockchain regulation, says families could save on fees Fox Business
