Crypto investors around the world live in a constant state of fear and doubt, owing to governmental indecision in most cases. It is especially true in countries that still do not have a clear legal cryptocurrency framework. In India, for instance, the past few weeks have been very tough on crypto investors. With a looming fear of a crypto ban, many investors have been trying to sell off their digital tokens. Even that became an impossibility with revised crypt rules and the discretion of cryptocurrency exchanges in the country. Such has been the case for many countries where crypto investors are not sure about where they stand.
Much of this problem could have been solved if there was an international standard for cryptocurrencies, like the one Binance called for recently. As with fiat currency, a global standard would not only alleviate crypto users from their constant state of uncertainty but also work towards lowering crimes related to crypto. Without a global standard, crypto investors will continue to thrive in a state of uncertainty.
In 2022, the global crypto community can expect more regulations in different spheres of the market. The trend has already started, with South Kora implementing new crypto taxation rules. However, revised taxation rules validate the legality of cryptocurrencies. How things play out, in the long run, is still unclear. For now, we can expect more regulations, the effect of which might be good or bad.