Crypto Firms Can't Outrun the Travel Rule

None of that has turned out to be true. In contrast, the onset of regulation is strengthening trust to the industry and is promising to be a great boon to the industry. Since Bitcoin emerged 12 years, entrepreneurs have created thousands of types of virtual assets, including stablecoins. Bitcoin and ether both hit new all-time highs in 2021 amid a wider rally in crypto markets, which are now estimated to have surpassed $3 trillion. Rather than smothering development, regulation has helped ease concerns about crypto being the “Wild West” of finance and encouraged a broader range of investors. As it matures, the industry should not fear regulation, it should embrace it.