TECHNOLOGY
Oliver Wyman ’ s Ben Reeve believes that regulation will be the largest near-term driver for development in the digital asset landscape , but argues that the current crypto winter is unlike others that have happened before .
“ Different from past crypto winters , there ’ s a significant amount of infrastructure that ’ s been built and many crypto natives have accumulated healthy funds to last through the winter and continue innovating . While there might still be a slowdown , this could also be an opportunity for traditional finance players to catch up .”
Will increased regulation define the years ahead ? Dan Da Rosa believes the unregulated state of crypto could potentially undermine investor confidence , with just 0.01 % of currency projects currently licensed and regulated . “ The more unregulated cryptocurrencies that enter the crypto space , the more likely it is that we will see potential investors invest elsewhere and the market will become a more volatile space .”
He takes pride in the fact that ETHAX is among the minority of cryptocurrencies that are licensed and regulated for the services they provide , but would like to see more being done to crack down on the remaining majority . “ We reduce the risk and ensure that we provide a safe platform for investors to learn on and develop their investing and cryptocurrency trading skills ,” he says .
“ We would like to see a complete shift in the cryptocurrency industry that encourages companies to be licensed and self-regulate . The crypto industry needs to unite on regulation , however , that proves a difficult task when so many cryptocurrencies are free to flood the industry with no or very low regulation standards .”
“ The market presents somewhat of an impossible task for investors to distinguish which cryptocurrencies are the ones to be trusted ”
DAN DA ROSA CEO AND CO-FOUNDER , ETHAX
This is a sentiment echoed by Ben Reeve , who points to the disparate nature of regulation around the world : “ The explosive growth of cryptocurrencies has led to nations urging their financial regulators to introduce frameworks for digital assets , but approaches have varied significantly on a global level , from some economies that embrace crypto technologies – such as Switzerland , Singapore and Hong Kong – to others with outright bans on crypto trading and mining activity .”