Time for Crypto to Make Nice With Regulators
— Nice, Sought, Street, Replace, Regulators, Risk, Trusted, Crypto, Source, Working — 1 min read
Cryptocurrency developers have historically sought to replace the source of risk, corruption, cost and dependency. But regulators are working off the old pre-crypto playbook for keeping financial entities in line. That means they can end up favoring the formation of centralized, trusted third parties. If that happens, it would set the industry up for the same “too big to fail” problems that led to the Wall Street collapse of 2008. If it happens, the industry would be set for ‘too big’ to fail, leading to the same problems as Wall Street’s collapse in 2008, experts say. In the past, regulators have been wary of centralized third parties in the cryptocurrency industry, too much risk and corruption to blame. Source