Bitcoin Foundation Dismisses Global Policy Counsel as It Focuses More on Technology, Less on Regulation

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Foundation has dismissed its global policy counsel, Jim Harper, as it looks to forge ahead in a new direction.

Harper's final day with the foundation was last Wednesday, although he had already received notice of the decision shortly after Thanksgiving.

The Foundation has been looking to change its focus from the Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term of Bitcoin to its technology. Two months ago, Jon Matonis resigned from his position as executive director, replaced by former general counsel Patrick Murck. On the most recent move, Murck explained:

"The policy aspect was more of a distraction and a drain on resources that we could handle at the moment. Without having that work to be done, there really wasn't a huge role for Jim to do."

Harper intends on running in the election for the Foundation's board of directors which will take place in February. Despite differences in opinion, he is not ready to cut all ties with the Foundation. He told the New York Times in an interview:

"My experience at the foundation was that it wasn't an organization that had a lot of focus and direction. Part of the reason I'm running for the board is because, whether I work there or not, I think the Bitcoin Foundation should have solid leadership and management from the top all the way down."

Another candidate running for the election, Bitcoin enthusiast Cody Wilson, is adamantly opposed to regulation and wants to have the organization dissolved entirely.