There is legislation everywhere if we talk about any industry
, that exists in operation, and if we talk about the things that are underlined beneath the activities of any particular sector industry other ones that need to be supervised by a particular body or authority which is going to be overlooking everything that is happening over there and making sure that it all is getting done under the set regulations as well as rules that I have already been defining previously for that particular industry which is very important to maintain discipline as well as also the way it is needed to be operated.
The Crypto sector is now different and it is also getting a lot of attention from the government as well as authorities across various countries we can see that a few countries are also looking toward setting up different and independent authorities which are just having the same purpose of overlooking every activity and also giving approvals for the cryptocurrency sector as well as follow the activities that happened to be existing in that particular Nation,
The president of Crypto.com as well as the chief operating officer has been talking about the MiCA legislation quite a lot as it can be one of the key fundamental factors that can help to expand the efforts of a lot of cryptocurrency exchanges that are working across the continent of Europe as it is having a huge responsibilities of making it a lot more workable as well as the way they are looking towards making the industry shape up to look like.
The officer has also highlighted the fact that regulations that have been set as well as the increasing amount of scrutiny that has been happening by the side of the mic have made it difficult for the new players to emerge in the market as well as the existing ones also having to face a lot of difficulties not to be making sure that their operation are smooth enough to be making sure that they are going to be going as per they are planned or there did imagine them to be.
Crypto.com has itself registered in several European countries and the officer has also made it clear that they are required to make sure that they comply with every different Framework that exists in each of those markets because that is how the game is played and that is the best way with which you can be things safe and making sure that you do not run into any trouble or anything of that sort.
However, we talk about the increase in the amount of scrutiny that is happening these days because of a lot of activities that Trigger the government as well as authorities to take this step we can talk about the collapse of the FTX exchange which was one of the most prominent exchanges which was existing in the cryptocurrency market in the entire world and the collapse of the exchange did send a lot of shock waves across the market as well as ecosystem.
That is why even their actions are quite justified as we can see that happening if we talk about the scrutiny that exists from the side of the authorities but at the same time, all of these things are making the condition for the existing trip to business quite difficult to operate in which is why we need to be making sure that all of the things are existing in the right manner correct least in a perfect balance which will be making sure that both the authorities as well as the businesses are satisfied.
It will be exciting to see how things are going to be looking like in a couple of years as a lot of things are right now taking place and these things are settling down slowly which will make sure that the way the Crypto sector is going to look like in a couple of years.
Find me on :
3Speak
LeoFinance
DTube
Instagram
Twitter
Cheers!
Sayu
Posted Using InLeo Alpha