As the market itself witnessed how crypto bloomed in the market in 2021, all the crypto investors have witnessed exceptional returns across major crypto assets.
However, we also saw how it was boycotted and how the government tried to ban crypto from having a monopoly on their own currency in 2021.
Now in 2022, everyone is speculating what the future of crypto will be. Will it keep thriving or be altogether banned as it did in China?
As Alex Tapscott of Ninepoint Digital Assets Group said:
It’s no secret how crypto and blockchain became too big to ignore in 2021. He also observed how the government and regulators are finally seeing the capabilities of this new technology. They also consider the adverse effects as it happened in China, he added. But altogether, the regulators and lawmakers’ vision has shifted a little on thoughtful engagement. He explained with an example of how in Canada, his home country, the securities regulator, the OSC, has been a settler, legalizing a multi-billion crypto exchange-traded fund (ETF) industry.
As we all know, industry members are anticipating CFTC’s future actions, and many other government organizations already have crypto on their 2022 agenda. Also, in the US, congress further announced that a hearing will be taking place in January 2022, where the impact of cryptocurrency mining on the environment will be discussed.
Although, there is a high possibility of crypto blooming higher in 2022, considering the amount of profit it brought in 2021. However, it all depends on the decisions of the government and regulators.