What should the crypto industry expect from regulators in 2022? Experts answer, Part 1

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Blockchain industry insiders answer: What were the main crypto regulatory milestones in 2021, and what should be expected in 2022?

of the first Bitcoin exchange-traded fund , which had been awaited for eight years and was hailed as a breakthrough moment in crypto history. I expect that these trends will continue in 2022: Small countries will follow El Salvador’s example of legalizing Bitcoin, while developed countries will most likely follow with the cautious approval of Bitcoin ETFs. But that’s just my opinion.

“DeFi’s unprecedented growth and technological innovations in recent years baffled the global financial markets and regulators, who, I believe, are still trying to make sense of the whole situation. This is probably why cryptocurrencies as an asset class were ignored and regulation was completely absent for over a decade. But now, as DeFi is slowly making its way toward the mainstream, conversations around regulation are emerging.

“The industry demonstrated its strength and ability to organize. With the U.S. legislature’s activity around crypto as part of the infrastructure bill, the industry was able to unite and get the message out: Cryptocurrency and blockchain are here to stay. While proponents are in favor of regulation to bring clarity to the market and encourage adoption, it needs to be thoughtful and encourage innovation, not restrict it.

Apart from this, in 2022, I expect more acceptance on the regulatory front as crypto aims to revolutionize the financial system across the globe with DeFi. Crypto forensics is on the rise, and I expect it to be adopted by governments to safeguard their citizens.Jason Allegrante of Fireblocks “Most exchanges I trade on have asked me to complete KYC to stay trading on their platforms. A few exchanges took this too far by cutting accounts down to one per person, which, in reality, was crazy. With traditional banking, you can have numerous accounts with one bank, so in my opinion, a few bridges need to be crossed to meet in the middle. AML can still be tightened, but we have a long way to go. And as with traditional cash, there will always be ways around this.

 

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