Bear Market a Chance for Crypto Businesses to ‘Pivot,’ Chainalysis Says

Following TerraUSD’s demise, the general consensus among policymakers is that crypto needs more heavy-handed rules. Still, Chainalysis’ Todd Lenfield sees opportunity to grow legitimate businesses in a fast moving industry. EU policymakers reached an agreement on the long-debated Markets in Crypto Assets (MiCA) bill seeking to establish rules for how digital assets, including stablecoins, should be treated in the bloc. The bill also seeks to clamp down on money laundering by requiring non-compliant service providers to be listed in a public register, hoping to single them out as bad actors. But Chainalysis executive sees this as a time to grow, especially when it comes to bolstering the industry's image in the eyes of the law. Source