Where does your country stands based on this ranking from Chainalysis?
Around the world, there are more or less 200M crypto users. While it may seem that the road to 1B users is still far, the fact is we may reach that goal sooner than most of us think. We may not need to wait another decade or two before it happens.
With adoption comes more regulation. As more users enter the crypto space, legislators and regulators will ensure that it could get more taxes out of it considering the amount that they could get and the amount that has left and will be leaving the traditional market which also means loss of taxes.
Another purpose of regulation is protection of users. We have seen so many hacks in the last 18 months particularly in decentralized finance (DeFi) which has left a lot of users helpless. Regulations will ensure that black hat hackers will be made accountable for their acts as well as white hat hackers from being recognized and compensated for their efforts in maintaining these platforms safe and secure.
Moreover, a lot of criminals and terrorists will find their ways to crypto too which will make the crypto space a new frontier for regulators to explore and expand their reach. While crypto is not a crime itself, we can never say that criminals and terrorists will never take advantage of it.
Crypto is the future and the future is decentralized. Surely, we will be going there as long as we will be able to accept that everything has limitations and regulations. Even wars and revolutions has its own rules, how much more for crypto?
Thien Do 3 yrs
great