The issue of regulating cryptocurrencies is at the heart of economic news in many countries today. This particular interest is one of the results of the FTX stock market crash at the beginning of the month. The company’s collapse affected more than a million people around the world. The damages are estimated at several billion dollars. Since then, the regulatory debate has raged. While some believe that cryptocurrencies are dangerous and should be banned, others suggest that they should be regulated urgently. This, in order to better protect small investors and prevent a possible new market catastrophe. Changpeng Zhao, founder of the Binance exchange, agrees.
The best choice for governments?
Last Friday, CZ, the head of Binance, returned to the issue of cryptocurrency regulation. According to him, regulating rather than opposing the cryptocurrency industry is a better option for governments around the world. This, while digital currencies are becoming more widespread and their adoption is well under way.
I think most governments now realize that adoption will happen no matter what. It is better to regulate the sector than to try to fight it.”. This was stated by CZ during a Event From Penance to Athens.
Later in the intervention, Czechoslovakia said it saw potential for the countries to add cryptocurrencies to their reserves. To this end, he indicated that he expects countries that do not have their own currencies to decline.
For many experts, the collapse of FTX will cause a domino effect, which should affect more crypto businesses. At the moment, players like Genesis, Gemini or crowdfunding specialist List of currencies in turmoil. They also expect the cryptocurrency bear market to continue throughout the next year.
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Far from dampening my enthusiasm, an unsuccessful investment in cryptocurrency in 2017 only fueled my enthusiasm. So I decided to study and understand the blockchain and its many uses and pass on my pen information related to this ecosystem.