Is government oversight non-negotiable for the future of crypto?
Governments aren’t known for allowing anything to thrive without some oversight or control, but for the most part, crypto is proving to be an exception.
At the heart of crypto and blockchain tech is the concept of decentralization, which avoids oversight by a central authority, but some form of government control might be inevitable to help them achieve mainstream adoption.
Governments have already been reluctant to allow the crypto industry to thrive without some form of controls and regulations, and much of the crypto industry is still unregulated.
A Dec. 19, 2023, PricewaterhouseCoopers report found that 42 countries discussed or passed crypto regulations and legislation in 2023. However, many still lack a clear regulatory framework.
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Author: Stephen Katte
