The year 2021 marks the year that many industry players and retail investors are starting to plunge into the kritpo market. Whereas before that, most Wall Street industry giants and VC fund managers took a wait -and -see attitude because of the huge risks.
Yet when, their prediction that the crypto bubble would burst did not come true then they finally chose to follow the trend to seize the opportunities offered.
Some of the largest commercial banks such as JP Morgan, Morgan Stanley, and a few others have once blocked crypto payments on their platforms and called them Ponzi schemes thus rejecting all of their crypto -related customer requests. Still, some large companies like Microstrategy pioneered Fortune 500 companies that invested in BTC as an inflation hedge against the US Dollar.
If 2021 is about adoption of crypto assets, analysts argue that 2022 may be about imposing crypto rules as governments around the world are now thinking about and examining various aspects of the crypto market and how it can be regulated.
Some countries have regulated crypto assets under existing tax laws while many other countries plan to bring in a whole new set of rules. Circle CEO Jeremy Allaire believes stablecoin rules may be set but it won’t affect the growing use of stablecoin.
Jeremy also expects that the involvement of industry players will continue to increase and the amount of money invested will continue to double. However, with the imposition of various crypto rules has the potential to curb this.
A number of CEOs of crypto companies are of the opinion that the implementation of this regulation will not be implemented all at once but in stages and take several years.
The focus of crypto industry players and investors is still on the development of stablecoin and how the government is dealing with this.
