There have been some massive developments in the crypto world as of late and it has taken the crypto community by storm. According to a large number of reliable reports, the Securities and Exchange Commission had recently come up with a broadside launch that was against the world of crypto. In case you have been following the ins and outs of the crypto world, you will be well aware of the fact that the Securities and Exchange Commission has been quite involved with crypto these days.
This is becomes even more abundantly clear when you look at the regulations being put forward and proposed by various governments these days. While a large number of people have been quite against regulations, there are loads and loads of people who believe that putting forward regulations would be good for the crypto space. Needless to say, opinions still stay quite divided. The chairman of the Securities and Exchange Commission appeared in front of the Senate Banking in order to testify regarding.
For those who don’t know, Gary Gensler has been quite vocal about how the world of crypto has been facing a great deal of issue, especially as far as hacks, scams and frauds are concerned. As time passes, however, more and more people are beginning to realize that while crypto is profitable, most investors are vulnerable to scams. This is abundantly clear from the fact that high profile crypto exchanges have lost millions of Dollars due to hacks and scams.
What makes matters worse is the fact that retrieving this lost money can be incredibly difficult. As a matter of fact, in some cases, it happens to be impossible. It is a major reason why the Securities and Exchange Commission has been intervening for quite a while and plans to continue it down the line. Whatever the case, things are slowly but surely improving despite some people not being too keen about the SECs involvement in the crypto landscape.
In addition to that, experts in the world of crypto also firmly believe that the crypto space can become free from all of the issues that plague it today. To do that, however, would require a great deal of cooperation and action from a variety of institutions. Fortunately, however, things are coming together quite nicely and people are not as afraid of making crypto investments as they used to be. At the end of the day, it is all about keeping investments safe and exchanges are coming up with excellent ways to do that.
While eliminating frauds and scams is not the only thing to make crypto worthwhile, it would be fair to say that it is a step in the right direction.