The era of unfettered cryptocurrency experimentation (and rampant scams) may be gone

After more than 10 years of free will, it seems that the disadvantages, especially those associated with uncontrolled fraud, outweigh the advantages of cryptocurrencies, and the EU and US have put their cards on the table.

Its exponential growth, which already reaches a total of $2.9 trillion, the current collapse we are experiencing, and entire countries handing over their economies to them, have only strengthened the resolve of lawmakers.

last Thursday, EU institutions announced agreement on two important rules: The Crypto Asset Market Act (also known as MiCA), which governs most cryptocurrency service providers, as well as an anti-money laundering package that imposes strict controls on cryptocurrency transfers.

The United States, for its part, has also introduced several bills in recent months.

It’s true that this is what there will come another year of regulations, voting and, finally, entry into forceif he succeeds. However, we can talk about the end of total freedom in this sector.

And the fact is, despite only seven months to go in 2022, the world of crypto is moving like never before. The war in Ukraine, the rise in fuel prices… all this atmosphere of instability has led to the fall of cryptocurrencies like never before, and thousands of new and old scams. We leave you some in this article.

In addition, many legislators believe that this is only the beginning and, logically, we find many sectors for and against.

A perfect example of how this vast world continues to evolve are the new emerging tokens, which instead of being born with the idea of ​​a digital asset, as Bitcoin was originally, are presented in the form of shares that give voting rights in companies, emerging markets based on cryptocurrency, or as purely speculative assets.

On the other hand, we have famous stablecoins, unfortunately due to the fall of Terra (LUNA). They are no longer trusted to maintain parity.

The EU MiCA law requires stablecoin issuers to maintain a one-to-one ratio between currencies and underlying assetsand who guarantee sufficient liquidity without investing their assets in risky or illiquid investments …. and other rules.

The EU and US are also expected to integrate the regulation of cryptocurrency exchanges given their lack of security, financial opacity and lack of clarity in their corporate structure. They will strive to be more transparent.