Jihan Wu who is the founder and former CEO of crypto mining company Bitmain, believes regulation is needed for the crypto industry. In fact, it can benefit crypto as it can avoid the activities of scams and ‘scammers’.
The debate over the implementation of laws in the crypto market is nothing new. It has been widely debated over the past few years in tandem with the surge in BTC prices to record highs. Global players have tried to outline a few things but still failed to implement them.
Jihan Wu is among those who believe that the market can really grow even if crypto rules have begun to be implemented. He personally described the implementation as a 'healthy' one because it can help from money laundering and criminals.
Wu also underlined that more than 10% of U.S. citizens have been involved with crypto. The implementation of this rule will only work if the authorities are able to make it safer for investors.
On the other hand, Caitlin Long, founder, and CEO of Avanti also appeared to comment on the implementation of crypto rules. According to the youth, regulations from the authorities will not affect crypto directly.
Yet he believes the real issue will come up with intermediaries. He warned that banks could still ask the Federal Reserve to "restrict access for anyone who disagrees". This case has happened in previous years.
