Topic: The SEC announced it will not regulate cryptocurrencies this year (Read 113 times)
Bitcoin was just updated with Taproot and Shnorr. It may be slow but it's sufficient for its price to go up. The update, as far as I know, is very sophisticated and the possibility of Bitcoin having a smart contract is here already. When it finally begins, regulations will be more difficult. Hundreds to thousands of apps can be built on top of BTC and Defi will win.
It's actually good that they don't have to regulate it this year because we can still enjoy more freedom in cryptocurrency for another year. And it's right to have a positive outlook on it because the less the authority is involved in a decentralized platform, the better for the people in it.
For me, it's not important if they start to regulate cryptocurrencies immediately, because at the end of the day you will still gonna know what is the result and if you are into cryptocurrencies and already tried to use them (appreciating crypto being decentralized), and you will ask yourself a question, "how they will regulate cryptocurrencies?"
It's actually good that they don't have to regulate it this year because we can still enjoy more freedom in cryptocurrency for another year. And it's right to have a positive outlook on it because the less the authority is involved in a decentralized platform, the better for the people in it.
Regardless of the decision, the question will be to what extent they can regulate cryptocurrencies at all. Of course, the exchange platforms in fiat currencies can be better regulated, but that is already done in part, see Coinbase and others who have a license to the US market. I think the shift of the decision also comes about because they don't really know how to regulate it.
It's actually good that they don't have to regulate it this year because we can still enjoy more freedom in cryptocurrency for another year. And it's right to have a positive outlook on it because the less the authority is involved in a decentralized platform, the better for the people in it.
My outlook is positive. Technological advances make it impossible for regulators to keep up. We have hundreds of other cryptos working as testbeds for new features while bitcoin innovations are purposefully slow. Eventually, regulations will have to be adjusted to help sidestep them. For years, it'll be a game of cat and mouse, and I'm confident that Defi innovations will benefit the small, poor people of the earth greatly.
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