Hopefully Regulations for Cryptocurrencies do not Follow a Past Internet Legislation

I just finished reading Rik Ferguson’s newest article on medium. In the article, Mr. Ferguson laid out a brief history of the legislation around piracy and copyright law. The facts are a bit frightening. My hope is the SEC doesn’t take the same path when regulating cryptocurrencies, but right now it is anyone’s guess. I highly recommend the article to anyone thinking, or deciding, about the future of this exciting new technology. Here is a taste:

“The bills initially contained proposals for the use of the Domain Name System (DNS) as a blunt instrument to block access to sites that were simply accusedof hosting or even linking out to copyrighted content. DNS servers would be required to prevent the domain names of infringing websites from resolving to their IP address, and search engines would be required to delist sites that contained copyright-infringing content, blocking entire domains for potentially one infringing post or page. In practice, an extreme scenario could see a legitimate site such as YouTube being blocked in its entirety because oneuser posted copyrighted content. The bills also proposed to enforce liability on hosts for any links that point to disputed content and would have obliged service providers to investigate their customers’ online activity at the behest of the authorities.” 

Article Link: https://medium.com/s/new-world-crime/this-is-how-internet-regulation-can-go-really-wrong-f5ea6236bec9

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