Once again this year, we would like to sweeten the Advent season for our readers with an Advent calendar. In a slightly different form, each door contains a “knowledge bomb”, which will be supplemented with an extraordinary special prize on Christmas Day.
Behind the twentieth door is the term “regulation”. To enter the giveaway on the 24th, simply take part in the polls and like the respective Twitter posts.
Regulation
Technologies that have the potential to reshape entire business sectors are, by their very nature, developing rapidly. This was already visible in the early days of the Internet and is no different with the advent of blockchain technology. Regulators are understandably lagging behind the development. However, regulation is essential for mass adoption of new use cases, as without legal certainty the flow of investment and therefore innovation will stall.
Since the first major adoption of cryptocurrencies in 2017, a lot has happened in this area. The fact that value can now be transferred over the internet without the involvement of traditional payment and financial infrastructure does not make the regulatory framework any less complex. Moreover, transaction capabilities already exist in the DeFi space that are on par with the traditional financial sector. Without the proactive engagement of financial regulators, the crypto industry would not have taken the development it has stormed in the last five years. Both in terms of the diversity of products and services and vis-à-vis global adoption, the industry has come a long way.
