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TL;DR
Over the previous 12 months or so, folks have began to be extra cautious than ever with reference to which tasks to put money into and whether or not or not the workforce behind them are good or dangerous actors.
With the autumn of firms like FTX, it has pressured regulators to make a transfer – for higher or worse – and make clear the foundations across the crypto business that will have in any other case taken years to be introduced into impact.
Full Story
For years, many within the crypto world have been hoping, no pleading, for 2 issues to occur:
Much less/no scams
Extra regulation (let folks know the foundations, to allow them to play by them)
In line with Marathon Digital’s CEO, Fred Thiel, that is precisely what the crash of the previous 12 months or so (it was 12 months since LUNA depegged from the greenback, yesterday) has performed.
Talking on the Monetary Instances’s Crypto and Digital Belongings Summit, Mr Thiel mentioned this:
“I believe this era of stress that the crypto market has gone via is cleansing out a whole lot of unsavory operators,”
“It is also forcing the regulators to react, which in any other case they’d have been too gradual to do.”
And he has a degree…
Over the previous 12 months or so, folks have began to be extra cautious than ever with reference to which tasks to put money into and whether or not or not the workforce behind them are good or dangerous actors.
With the autumn of firms like FTX, it has pressured regulators to make a transfer – for higher or worse – and make clear the foundations across the crypto business that will have in any other case taken years to be introduced into impact.
Possibly we’re simply ‘glass half full’ kinda guys, however, simply because the Covid-19 pandemic pulled forwards the timeline for distant work to be normalized, it appears the crypto winter has pressured regulators to get on their bikes too.
Let’s hope scams keep low (or disappear!) and regulation continues to be refined within the subsequent bull run.
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