Many believe that cryptocurrencies should be regulated as they will bring in some consistency. The boom in crypto and the interest in Bitcoin (BTC) has also shown that regulation will help to integrate it into the financial system. Comprehensive regulation will check money laundering and will help to protect the investors. There is cryptocurrency regulation news in different countries which shows how they are debating the issue.
Currently, there are ample cases of money laundering and scams. There is nothing to check price volatility and insider trading. A regulatory body will mean the assets of the investors will be protected. People will be able to invest in Bitcoin Cash (BCH) and Altcoins feeling more secure as there will be a safer market. Otherwise, if a crypto-platform in which you have invested gets hacked, there is no way of protecting your money.
Unsupervised growth of crypto assets can fuel financial instability as the capital flow is not stabilized. A controlled environment will make investors feel more confident about using Crypto Hardware Wallets and blockchain applications.
Most people are aware of Dogecoin (DOGE), stablecoins, Binance Coin (BNB), Ethereum (ETH), Bitcoin (BTC), and a few others. But there are other thousands of cryptocurrencies and most still do not understand crypto-related assets. A regulatory body can help in disclosing all the information to potential investors.
Also, it will help to stop tax evasion and using cryptocurrency for illegal activities. The use of blockchain in FinTech can hardly keep it safe in the future because technology is developing at a massive speed. Therefore, the regulation of cryptocurrencies will also educate people about the technological risks associated with it.