Former U.S. President Bill Clinton said too much regulation could stifle development of new technologies including blockchain.

Speaking during Ripple’s Swell conference in San Francisco, Clinton acknowledged the new technologies can be abused, including by terrorists or criminals for money laundering, CoinDesk reported. He said there “needs to be an intelligent effort to identify the downsides” and that “you can’t apply [an] old regulatory regime to a new technology.”

“You end up killing the goose that laid the golden egg,” Clinton added.

He said blockchain has great potential because it is “applicable across national borders, income groups.” Read more here.

ThirtyK Staff
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