Angelo Babb explains how cryptocurrency and blockchain will be more regulated in 2023

Cryptocurrency and blockchain technology have become increasingly popular over the years. As more businesses and individuals begin to use these technologies, there is a greater need for regulation. To discuss this further, Angelo Babb, a cryptocurrency expert, shares his insights on how he thinks cryptocurrency and blockchain will be regulated in 2023.

Cryptocurrency and blockchain technology are currently in a largely unregulated state. Some countries have taken steps to regulate aspects of cryptocurrency and blockchain, but for the most part the industry is still operating in largely uncharted waters. This lack of regulation has led to some cases of fraud and abuse, which in turn has made some hesitant to get involved in cryptocurrency and blockchain.

However, this situation is changing. Explains Babb, As more people become aware of cryptocurrency and blockchain, and as the industry grows, there is increasing pressure on governments to start regulating these areas.

This process is already underway in many countries, and it is likely that we will see more regulations put in place in the coming years. This will help protect investors and users, and should make cryptocurrency and blockchain more mainstream.

There is a growing recognition of the potential for cryptocurrency and blockchain technology to be used for criminal activity. This has led to demands for increased regulation to prevent money laundering and other illegal use of the technology.

Second, there is a growing belief that cryptocurrency and blockchain assets should be subject to the same regulatory regime as other financial assets. This would mean bringing digital currencies under the umbrella of existing financial regulations, such as anti-money laundering laws.

Finally, there is a growing trend towards coordinated regulation of cryptocurrency and blockchain on a global level. This is driven by the fact that many cryptocurrencies are traded across national borders, making it difficult for a single country to effectively regulate them alone.

It is clear that cryptocurrency and blockchain regulation will become more widespread and stricter in the coming years. This will help to create a more stable and safer environment for innovation and investment in this exciting new technology.

Regulation can help prevent fraud and other illegal activities. For example, by requiring exchanges and other businesses to comply with know-your-customer (KYC) and anti-money laundering (AML) regulations, authorities can help track down and prosecute those who use cryptocurrency for illegal purposes.

Another benefit of regulation is that it can help protect investors from fraud and other risks. For example, by mandating that exchanges list only legitimate coins and tokens, investors can be protected from pump-and-dump schemes and other fraudulent activity.

Regulation can also provide clarity and security for businesses operating in the space. By setting clear rules and guidelines, businesses can know exactly what is expected of them, which can help drive innovation and adoption.

The cryptocurrency and blockchain industry is still in its early stages, meaning it is not yet subject to the same regulatory scrutiny as other industries. But as the industry grows, more government agencies and financial institutions are starting to take notice. This is both good and bad news for the industry.

On the one hand, more regulation will give legitimacy to the industry and make it more accessible to ordinary investors. On the other hand, too much regulation can stifle innovation and hinder the growth of the industry.

It’s clear that cryptocurrency and blockchain technology are here to stay, despite their current lack of regulation. Over the next few years, we can expect this exciting new technology to become more regulated and user-friendly as authorities begin to understand its potential. With the right regulations in place, it seems likely that cryptocurrencies will continue to grow and change our world for many years to come.

About Angelo Babb

Angelo Babb is a cryptocurrency and blockchain legal consultant who helps new and established organizations strengthen their digital asset interactions. A certified attorney and Scrum Master, he works with all categories of businesses to ensure that cryptocurrency endeavors substantially meet their obligations. When not furthering his education in the cryptocurrency and blockchain fields, Babb enjoys relaxing on the beach with his family.