The greatest threat we've had to economic growth has been that those in industry don't know what is expected of them. Rules come that are outside of statutes. Rules get changed midway. It creates vast uncertainty and paralysis, and re-establishing a vigorous commitment to rule of law is going to help a lot.
I support the Volcker rule, but there needs to be proper definitions around the Volcker rule so that banks can understand exactly what they can do and what they can't do, and that they can provide the necessary function of liquidity in customer markets.
Setting regulatory certainty is very important for bitcoin. I'm opposed to the regulations, but the bitcoin businesses need to know the rules of the game in order to move ahead.
The U.S. is probably the easiest country in the world to operate in. Most of the time, there are clear rules of engagement. The laws are clear. There’s transportation. There’s logistics.
I'm a former insurance regulator. What companies really want and need is some clarity about what the rules are.
Businesses large and small shouldn't have to check the expiration date of a tax provision to see if it's still good.
In order to encourage private investors to pursue long-term, responsible projects, governments need to promote consistent policies and frameworks.
Is regulation per se bad? Is better regulation bad? I think better regulation is good for the business community, and I think that's something we should get together on.
There's a perception out there that Airbnb doesn't want there to be rules. We think rules would be fantastic. We think rules would help our community, but not necessarily the rules that have simply existed for decades.
We need to have much clearer regulations on things like corporate funding of scientific research. Things need to be made explicit which are implicit.
Regulators have not been able to achieve the level of future clarity required to act pre-emptively. The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so...
Time and time again, small businesses testify before the Committee on Small Business that they simply want the government to 'get out of the way.'
I think it's important that we eliminate regulations that are not serving a useful purpose.
It's hardly a radical idea to suggest that regulators and legislators understand the law now, is it?
The regulation picture has gotten a lot clearer in the U.S. and most of Europe. And that's fantastic. I think that's why you're seeing companies like Microsoft and Dell accepting Bitcoins.
I believe that as a part of good governance, all agencies should be reviewing regulations and cleaning up those that may be outdated, redundant, or unnecessary.
