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How might blockchain regulations evolve in the future?

Right now, if you leave the US to go to India and you have $20K USD, you have to declare it. A friend told me that at some senior levels in government, they were considering a mandate in which you would have to declare any cryptocurrency you move across international borders. The thinking is that if you know the key, then you're technically moving money. It was a cool conversation to be a part of, but it's terrifying to think that you could be guilty of money laundering just because you had your 24-word passphrase memorized while you traveled between countries and didn't declare all of your Bitcoin assets.

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Anonymous Author
Right now, if you leave the US to go to India and you have $20K USD, you have to declare it. A friend told me that at some senior levels in government, they were considering a mandate in which you would have to declare any cryptocurrency you move across international borders. The thinking is that if you know the key, then you're technically moving money. It was a cool conversation to be a part of, but it's terrifying to think that you could be guilty of money laundering just because you had your 24-word passphrase memorized while you traveled between countries and didn't declare all of your Bitcoin assets.
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Anonymous Author
Crypto.com is becoming one of the main organizations bringing crypto to the mainstream. They bought the Staples Center and renamed it the Crypto.com Arena. In their model, over 95% of funds are kept in cold storage. They recently had a report of suspicious activity in which a lot of people lost funds. The details weren’t released but 2FA was enabled. Some hackers managed to transfer out money, but Crypto.com covered everything and everybody got their funds back. I don't know what the scale was, but they have about $500M worth of insurance to cover all these incidentals. So the question is, how does that play into the technology space in terms of insurable losses, and what kind of controls can be put in place to make sure accidents don't happen? These are part of the growing pains of a new technology. Now that we’ve discovered problems, what controls can we put in place to solve them?
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