Sure. Once again, I'm more on the technology side than the policy side, but I'll try to answer as best I can.
On whether or not different countries have taken different approaches to regulating cryptocurrencies, I don't have a shining example of a country that did it wrong. There is a lot of criticism of something called the BitLicense in New York state. The community seemed to feel that this was a regulatory overreach.
In Canada, most Bitcoin people, or cryptocurrency or blockchain people, are fairly happy with the current state where exchanges are sort of operating as money service businesses. They're doing financial reporting. There are some concerns about banks, commercial banks, shutting down the bank accounts of businesses that operate with Bitcoin. That's maybe one criticism I've heard.
But, yes, sometimes regulation also can pave the way to say that we like this technology, and so sometimes remaining silent on certain issues as well can be a detriment. I know one bureaucrat, whom I won't name, who was basically shopping around a blockchain project and said, “I stopped asking whether we can do this, and I started asking, 'Do you know of a specific rule that you can point to that would get broken if we try to do this'”?
That was their approach for trying to make these blockchain projects work within government policy.