Blockchains, Data Protection, and GDPR
Recently I came across an interesting problem which is to do with data regulation and blockchains: what are the regulations surrounding storing data on blockchains? While there are very few regulations which are specific to blockchain technology it is worth considering which existing laws already apply to blockchain technology. Governments, and their associated regulatory institutions, have been fairly hands off but that’s not to say that no laws apply.
The SEC in the US have strict laws around registered exchanges. Simply setting up an exchange using blockchain technology in order to skirt around the SEC isn’t going to cut it.