ITIF Releases Guide to Regulating Blockchain for Policymakers

The Information Technology & Innovation Foundation (ITIF) released recommendations for policymakers on how to regulate blockchain technology. Founded in 2006, ITIF is an independent nonprofit institute that provides policymakers with information, analysis and recommendations for handling new technology.

In its new guide, ITIF included an array of proposals for policymakers to better regulate blockchain based on principles like technology neutrality and public-sector adoption.

It adds that uninformed lawmaking threatens to hamstring development — вata-use regulations can affect blockchain deployment. For instance, some of the E.U.’s provisions, the guide explains, are inconsistent with the tamper-proof nature of blockchain transactions. Generally, ITIF encourages governments to make more effort to support legitimate blockchain innovation and adoption by developing relevant regulations that do not limit blockchain-based applications out-of-hand.

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