The ConsenSys 2023 conference, held by CoinDesk on Apr. 26-28, has just concluded, and it's been an eventful week filled with discussions on various critical issues that will shape the industry. The conference had a lot of insightful discussions, and the CoinDesk editorial team has shared some of their takeaways.

High Level of Optimism Despite Regulatory Challenges

Nick Baker, the CoinDesk deputy editor-in-chief, noted the high level of optimism that attendees had about the crypto industry, despite the regulatory challenges. He also pointed out that traditional finance players were still bullish about crypto, despite their slow progress in integrating with the industry.

Lack of Regulatory Clarity Hinders Progress Across Industries

Ben Schiller, head of ConsenSys Magazine, was struck by the comments made by Kate Brady, head of communications for Web3 at PepsiCo, who spoke about being stymied by the lack of regulatory clarity. He emphasized that the lack of regulatory guidance is not just a crypto industry problem but an issue that affects all of corporate America and everyone who wants to develop in Web3.

Non-U.S. Regulators Are Thinking About Crypto

Nikhilesh De, CoinDesk managing editor for global policy and regulation, pointed out that the ongoing regulatory discussions are happening in parallel with Congress and other jurisdictions, lending more urgency to the talks. He noted that there have been multiple hearings addressing cryptocurrencies and other related issues. Amitoj Singh, CoinDesk regulatory reporter, shared his thoughts on how non-U.S. regulators are thinking about crypto while the U.S. remains in a regulatory deadlock.

Turf War Between CFTC and SEC on Finding Regulatory Clarity

Cheyenne Ligon, CoinDesk regulatory reporter, shared her insights on the turf war between the CFTC and the SEC, highlighting the disagreement on the path forward for finding regulatory clarity for crypto. The panel agreed that regulation would continue to be done via enforcement.

Conclusion

The ConsenSys 2023 conference has shown that despite the regulatory challenges, there is still a lot of optimism and belief in the future of the crypto industry. However, the lack of regulatory clarity is hindering progress, and this is not just a crypto industry problem but an issue that affects everyone. It's clear that the industry needs regulatory guidance to continue to grow and develop.

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