VARA CEO Matthew White admitted that regulations are “not perfect” and said they continue to engage with the industry to try and understand it better.
Matthew White, the CEO of VARA, explained that being regulated is costly, and they are looking for ways to reduce the financial burdens for smaller entities.
“It’s not perfect. There’s a number of things I’m looking at, at the moment, to try and make the regime fit for everybody. One of those is figuring out a way to deal with the costs of compliance for smaller entities.” VARA CEO Matthew White discussing regulations at the Paris Blockchain Week stage. Source: Paris Blockchain Week
“The cost of compliance is borne by the larger systemic players and this allows the smaller players to come into the ecosystem, be regulated, but also not have to suffer the same sort of level of costs of compliance that we’ve got.”
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