Definition ∞ Consultative Rulemaking is a regulatory process where authorities seek input from affected parties and the public before finalizing new rules or policies. This approach involves publishing proposed regulations and inviting comments, holding public hearings, or engaging in dialogues with industry stakeholders. The objective is to gather diverse perspectives and technical insights, leading to more informed and effective regulatory outcomes. This method promotes transparency and stakeholder involvement in policy formulation.
Context ∞ In the context of digital assets, consultative rulemaking is a critical discussion point as governments worldwide seek to regulate the rapidly evolving crypto sector. A key debate involves how regulators can effectively gather input from a globally distributed and technically complex industry. Future efforts will likely focus on developing more adaptive and collaborative regulatory frameworks that consider the unique aspects of blockchain technology.
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