The emerging regulations in the crypto niche are an indication that the industry is maturing fast, encouraging innovation and money to flow into the new space.
In the crypto and decentralized world, a major evolution and shift have been noted. The industry has come under greater scrutiny and, indeed, more organized. A couple of weeks ago, the President of the United States, Joe Biden, signed an Executive Order to fast track regulatory oversight of the USD 3 trillion industry.
This order implies that the government will further scrutinize the risks and benefits of cryptos, with a special focus on financial stability, customer protection, financial inclusion, innovation, and US competitiveness. Although results of this scrutiny are yet to come out, it is no doubt an excellent moment to get everything straight on the predictability and stability of decentralized finance (DeFi).
Like other industries, getting clarity on DeFi and crypto operations is very crucial. Therefore, the regulatory oversight of the US administration will come in handy and should be welcomed by the crypto enthusiast and the entire DeFi community.
ETHDenver Conference Impending Regulations Signal a Great Year Ahead
In the meantime, signs indicate that cryptos and DeFi ecosystems are joining up with creativity, talent, energy, and capital-driven participation. In one of the Ethereum conferences in Denver, which attracted over 12,000 participants, it was clear that a lot of young minds are getting attracted to the niche.
Some of the smartest and most talented young hackers were there to welcome venture capitalists to check in after setting up a hacker house in Denver. The price for admission was USD 3,000. Events like ETHDenver and the awaiting regulations show a proactive and meaningful year ahead.
The event in Denver indicated that the culture and industry are getting stronger, where venture capitalists are willing to pay USD 3,000 to simply talk to smart young minds in the industry. It is a bold sign that the industry is booming with energy.
These young minds, in some cases, are exiting schools to become part of the DeFi teams or create products and protocols for the crypto space. It is true that the crypto wave has moved into another phase where the old guards are providing stability and experience to usher in projects, protocols, and decentralized autonomous organizations (DAOs).
The mixing that is going on is unveiling a healthier crypto ecosystem where bright ideas, money, expertise, and enthusiasm will finally provide longevity for the maturity and evolution of Web3.