- Some voiced worries about the consequences of regulatory scrutiny, while others agreed.
- Responsible growth of Crypto and Web3 is possible with the correct regulations as per the CEO.
One of the most important factors in the future of Web3 and cryptocurrency, according to CryptoQuant CEO Ki Young Ju, is regulation. Ju said in an X post from September 29 that crypto and Web3 could âthrive responsiblyâ if the appropriate regulations were in place to reduce the prevalence of frauds and increase confidence.
The crypto community was divided at Juâs remarks. Some voiced worries about the consequences of regulatory scrutiny, while others agreed with him.
According to Ju, millions of individuals might experience a dramatic change as a result of Web3, which facilitates borderless cooperation and operates more like a protocol than a company. The CEO of a blockchain analytics platform, however, said that, similar to other financial sectors, the industryâs image is tarnished by scams and that âsmart regulationâ is necessary for the industryâs sustainable development.
Responsible growth of Crypto and Web3 is possible with the correct regulations. Eventually, the government will see it through. How much time do you think it will take, the CEO added.
When asked about Juâs opinion on the need for regulatory control, the crypto community had a varied reaction. While some saw his position on regulation as a positive development, others saw it as a danger. A commenter claimed that crypto and Web3 are frauds and that legislation would put a cap on the âhuge profitsâ that crypto provides.
Another person voiced their disapproval of regulators taking control, suggesting (in a rhetorical and satirical manner) that the community should take it easy and let the experts figure out whatâs best.
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