We’ll have more regulation for cryptomorphs, industry executives say

After several years of intense legal vigilance, the future can remain tight for cryptomorphs.

We’ll have more regulation for cryptomorphs, say industry executivesNOTÍCIAS

 

In recent years, regulatory bodies around the world have increased their vigilance in the cryptomore-space, bringing more regulatory clarity and, at the same time, pursuing offenders. While the industry has seen many rigid actions, authorities have not really changed their positions – at least according to Alex Wearn, CEO and cofounder of the decentralized exchange IDEX.

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„The regulation of cryptomorphs itself has not really changed in recent years,“ Wearn told the Cointelegraph. „Instead, what we have seen is an increase in enforcement actions and stronger guidance from regulators,“ he added. „I believe we will continue to see enforcement actions that help companies and entrepreneurs understand which types of activities are allowed and which are not.

Once considered a kind of Old West, the cryptomime industry has matured in many ways. After a year filled with excessive speculation, exaggeration, and fundraising in 2017, several national and international authorities intervened while digital asset markets declined for several years.

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Now, several years later, regulation is often the headline of crypto media. The last few weeks have seen only an increase in government action. The U.S. Department of Justice and the U.S. Commission on Trading, Futures and Commodities recently filed charges against the largest exchange in cryptomorph derivatives, BitMEX, for example. Regulators, however, have also clarified certain guidelines, as can be seen in the Comptroller of the Currency’s statement on banks‘ cryptomorant capabilities. Moreover, many countries, of course, consider digital asset technology so important, as each of them essentially competes in a race towards its own digital central bank currency, or CBDC.

„Crypto regulation is still in its infancy, but we saw some important developments last year in the forms of CBDCs and tax policies,“ Sasha Ivanov, CEO and founder of the blockchain-based Waves token platform, told Cointelegraph.

„Regulation will certainly be a focus area in the crypto space next year. It is only a matter of time before a growing number of jurisdictions establish their regulations. The right kind of regulation is really a good thing for cryptomaps. Waves wants to be at the forefront of the emerging dialogue and help shape the future of regulation in the blockchain space. “

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Several nations‘ government bodies have launched several action plans and rules in recent weeks.