Research and polls suggest that cryptocurrency enthusiasm remained high amidst a distressing crypto winter. Public opinion about digital coins such as Bitcoin has maintained a positive trend. The Ascent polls in May this year showed that crypto might be a substantial political force as far as the financial future is concerned.
Moreover, the StarkWave survey discovered that 53% of US residents trust crypto will define the future of money. Meanwhile, this number increased to 68% in the 25 – 34 age gap. A September report from venture capital firm Haun Ventures observed a similar narrative regardless of 2022’s bear markets.
72% of cryptocurrency holders in the interview, who lived among the four leading American cities, owned crypto. They prefer a more democratized, inclusive, and fair economic system. Haun Ventures stated that voters appear not back candidates that seem to back the decentralized internet innovation.
These findings remain significant as digital assets such as stablecoins and Ethereum help enhance decentralized finance (DeFi). As community sentiment towards crypto grows warmer, some governments appear to follow.
For instance, Columbia’s President Gustavo Petro said (last year) how digital currency is clean information & thus energy. Meanwhile, French regulators authorized the Binance exchange in May this year.
US: Crypto Regulation’s Global Leader?
Some believe national governments might be watching the US on how to monitor the new asset class. Meantime, June 2022 saw two United States Senators unveil the Responsible Finance Innovation Act. It comprised a list of cryptocurrency regulations & trials to clarify lingering quizzes about handling the industry.
The legislation emerged months after Joe Biden revealed the first-of-a-kind cryptocurrency executive order, directing the entire government ‘approach’ toward crypto guidelines. Meantime, cryptocurrency regulation remains a controversial subject.
Why Regulation Might be the Needed Rocked to Propel Crypto
Aaron Klein of Brookings Institution suggests that crypto-centric regulation could help protect investors, enhance company innovation, and reduce fraud. ONNA market expert Edward Moya stated (March 2022) that the global crypto market capitalization might double in the coming two years.
What are your opinions about cryptocurrency regulation? Feel free to comment below.