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The crypto market exhibits a wide spectrum of opportunities for everyone including the investors and the regulators. Crypto market is an ecosystem in itself pertaining to centralized and decentralized financial systems. Decentralized Finance (DeFi) allows market participants to work freely without any hindrance from single-control authorities. Whereas centralized finance is a circle where there is a single entity keeping an eye over everything.
The crypto market is no less than an ocean with millions of opportunities connecting various ends such Cryptocoins, NFT, altcoins, metaverse, and even Web3. But the question is what will happen if this ocean goes unseen, unregulated, untouched? Possibilities are, it will give rise to various illicit activities.
Crypto market is probably similar. When taking DeFi into the picture, the transactions are not regulated by any single entity. This creates a small but a harmful gap in the industry for the bad actors to slip in. However, like it’s wisely said, every coin has two sides. Centralized finance is the other side of the coin which offers a centralized space for the users. This helps the market entrants to understand the market flow and how transactions take place.
Most of the early adopters in the crypto currency market feel that Bitcoin and other cryptocurrencies will turn the tables around. The Crypto currency market will shift the financial control from bank to the masses. The user will have subtle control over the market and the financial transactions.
Amid a meteoric hike in the Crypto market back in 2017, watch dogs forecasted that Bitcoin will reach pinnacle, however things are getting totally opposite. The Bitcoin drastically crashed during the CryptoWinters and fell down to $20,000 in late August, 2022.
Now the question is: is there a need for regulations in the crypto industry? If yes, what regulations can be passed across?
According to recent studies 46 Million US citizens own a share of Bitcoin. Market experts and analysts have seemingly forecasted that the global blockchain market will reach 39.17 Billion USD by 2025. One of our closest research firms revealed that approximately 16% of the Americans have invested, traded, or used cryptocurrency.
There are certain reasons why we think the crypto market must suffice with serious regulations. Here are five reasons why.
Crypto currency market is filled with such activities which need to be stopped. The only way to do this is to regulate the complete industry. Many government authorities have started to regulate crypto activities and crypto based transactions and serve the user’s safety. This has always been a crucial topic and surely it must be implemented to make crypto a better place for investors.
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