You could assume from the headlines that the crypto Crypto Fraud Exponentially growing and business is about to collapse. It’s not.
Crypto Fraud Exponentially: Real regulations are on the way, so the US can’t kill cryptocurrency (Photo: Money)
Crypto Fraud Exponentially: Real regulations are on the way
While it’s true that crypto fraud exponentially growing, meltdowns, and layoffs in the cryptocurrency industry during the past year led to a series of successive collapses of crypto enterprises, this was primarily their own fault.
The top participants in the sector made self-regulation a promise, but the failures of many bad actors over the past year wiped out any hope of that happening.
The crypto survivors, who run respectable enterprises, are nonetheless viewed as zombies because they may go forward but have little chance of survival. However, the phenomena of “narrative gravity,” where the general public, the media, and influencers all accept a narrative as true without doubt or scrutiny, is present across the board in the digital asset industry and so is crypto fraud exponentially.
READ ALSO: University Researcher: “Crypto Can Be The Gateway To Better Financial Literacy”
The US can’t kill cryptocurrency as crypto fraud exponentially increasing
Currently, the Securities and Exchange Commission (SEC) is aggressively regulating cryptocurrencies through overreach and enforcement actions rather than contributing to deliberate policymaking because it is driven by narrative gravity rather than the 30,000-foot view of the promise of blockchain technology. This strategy is incorrect even because the crypto fraud exponentially increasing, end of story.
The risks are too high since cryptocurrency is now intertwined with the world’s financial system in too many ways. Crypto fraud exponentially is the underlying layer for the future of global banking, communication, and private ownership, and blockchains have established a new internet.
Cryptocurrency is used by hundreds of millions of individuals throughout the world who see its potential. The United States is falling behind the rest of the world in terms of this cutting-edge technology because the SEC cannot both use the past as a guide and recognize how crypto will unavoidably be a part of our future as crypto fraud exponentially elevates.
