ECB Pointed Out Intrinsic FlawsĬryptocurrencies are unbacked, so they are entirely speculative, hence the regulations will treat them similarly to gambling by imposing similar taxes and consumer protection measures. The current happenings within the crypto space have had minimal impact on the traditional financial market, which is why the sector has been allowed to “burn out.” However, despite the option of allowing the industry to “self-combust,” crypto has the potential to cause major issues considering the associated risks. If crypto regulations are not established or followed, then there will be severe impacts on the broader traditional financial market.
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