The Crypto Winter Is A Good Thing, Because…

TL;DR

• Over the previous yr or so, folks have began to be extra cautious than ever with reference to which tasks to spend money on and whether or not or not the staff behind them are good or dangerous actors.

• With the autumn of firms like FTX, it has compelled regulators to make a transfer – for higher or worse – and make clear the principles 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:

1. Much less/no scams

2. Extra regulation (let folks know the principles, to allow them to play by them)

In keeping with Marathon Digital’s CEO, Fred Thiel, that is precisely what the crash of the previous yr or so (it was 12 months since LUNA depegged from the greenback, yesterday) has carried out.

Talking on the Monetary Occasions’s Crypto and Digital Property Summit, Mr Thiel stated this:

“I feel this era of stress that the crypto market has gone by way of is cleansing out plenty of unsavory operators,”

“It is also forcing the regulators to react, which in any other case they might have been too gradual to do.”

And he has a degree…

Over the previous yr or so, folks have began to be extra cautious than ever with reference to which tasks to spend money on and whether or not or not the staff behind them are good or dangerous actors.

With the autumn of firms like FTX, it has compelled regulators to make a transfer – for higher or worse – and make clear the principles 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 compelled 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.