, Columnist
Crypto Advocates Should Be Begging for Regulation
The longer oversight is delayed, the greater the chance it won't be very innovation-friendly.
Out of control?
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Digital finance is booming, with the value of cryptocurrencies outstanding reaching more than $2 trillion from almost nothing a decade ago – almost entirely without regulatory oversight to protect investors and the broader financial system. This is not likely to end well, unless officials intervene in a thoughtful way.
So what should they do? One option is to avert disaster by clamping down. But there’s still an opening for a more balanced approach that doesn’t inhibit useful innovation — as long as regulators act soon.