I hear a lot of people in the crypto sphere talk about regulation being a bad thing. The reality is that most regulation aims at financial institutions such as these while also protecting the consumer.
Will additional regulation have a negative effect on the value of crypto? It's likely. However, the tech itself will continue to provide value to those who use it to circumvent the banking system. For instance, you can still exchange coins and store them in cold, personal wallets.
The fallout of this collapse will be significant and I hope what emerges thereafter will be a more sensible approach to crypto and more stable value.
I think what a lot of crypto people want to avoid is misguided regulation on decentralized protocols. But regulation that makes it less likely that central exchanges will rug you? I don't think many people mind that much.
SBF himself was lobbying for regulations that many people claimed would have outlawed defi in the US, pushing people to use outfits like FTX instead. People certainly do object to that.
Everyone wants to avoid misguided regulation. I don't think that's unique to crypto. What I hear is more of a blanket statement that regulation of any sort is bad, which feels naive and misguided on the part of the consumer.
Will additional regulation have a negative effect on the value of crypto? It's likely. However, the tech itself will continue to provide value to those who use it to circumvent the banking system. For instance, you can still exchange coins and store them in cold, personal wallets.
The fallout of this collapse will be significant and I hope what emerges thereafter will be a more sensible approach to crypto and more stable value.