{"id":446156,"date":"2022-05-12T19:21:00","date_gmt":"2022-05-12T16:21:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/crypto-needs-regulation-but-should-be-done-right-report-and-database\/"},"modified":"2022-05-12T19:21:00","modified_gmt":"2022-05-12T16:21:00","slug":"crypto-needs-regulation-but-should-be-done-right-report-and-database","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/crypto-needs-regulation-but-should-be-done-right-report-and-database\/","title":{"rendered":"# Crypto needs regulation but should be done right: Report and database"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a29d6e8c88c4\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a29d6e8c88c4\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-needs-regulation-but-should-be-done-right-report-and-database\/#%E2%80%9D_Crypto_needs_regulation_but_should_be_done_right_Report_and_database_%E2%80%9C\" >&#8221; Crypto needs regulation but should be done right: Report and database &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-needs-regulation-but-should-be-done-right-report-and-database\/#NFTs_and_stablecoins_catch_policymakers_sleeping\" >NFTs and stablecoins catch policymakers sleeping<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-needs-regulation-but-should-be-done-right-report-and-database\/#Governments_are_playing_catch-up\" >Governments are playing catch-up<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Crypto_needs_regulation_but_should_be_done_right_Report_and_database_%E2%80%9C\"><\/span>&#8221; Crypto needs regulation but should be done right: Report and database &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Regulatory attitudes toward crypto are constantly evolving, often at a slower pace than the crypto industry itself. Institutions and the broader public will not seriously consider working with cryptocurrencies without clear and comprehensive regulation. Furthermore, the industry suffers from widespread scams, phishing and hacks that very often have no legal repercussions. This bolsters the audacity of wrongdoers and augments the image of crypto as an arena for shady characters.<\/p>\n<p class=\"post-content__accent post-content__accent_small\"><em><a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">Download<\/a> the full report here, complete with charts and infographics<\/em><\/p>\n<p>In a new report, Cointelegraph Research provides an assessment of regulations around stablecoins, nonfungible tokens (NFT) and a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> overview of developments since the close of 2021. A new database of regulations, updated on a weekly basis, covers all updates in the industry. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"NFTs_and_stablecoins_catch_policymakers_sleeping\"><\/span>NFTs and stablecoins catch policymakers sleeping<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The NFT boom of 2021 jolted governments and international organizations into action. With over $9 billion in NFT sales on Ethereum, the emergence of a well-defined regulatory landscape for NFTs is crucial for the market\u2019s sustainable development in the future. The NFT market accounted for $1.5 million in illicit activities in the last quarter of 2021 alone. Although this is minuscule compared to the scale of money laundering happening elsewhere, it marks a detrimental trend that may continue into 2022.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/622402ca-4e72-44fa-84ac-c3b9fd273a9f.jpg\"><\/figure>\n<p>In both the United States and the United Kingdom, authorities have failed to introduce clear guidelines on NFTs, with some uncertainty on how to classify the asset class, although NFT issuers and marketplaces may be required to comply with Anti-Money Laundering and Know Your Customer practices.<\/p>\n<p>Cointelegraph Research records all the regulatory events worldwide on a weekly basis in its Regulations Database. <\/p>\n<p class=\"post-content__accent post-content__accent_small\"><em>Access the Cointelegraph Research Regulation Database here<\/em><\/p>\n<p>Stablecoins, similarly to NFTs, caught policymakers off guard. Stablecoin supply increased fivefold from $26 billion at the start of 2021 to $164 billion at the end of 2021. The growth continues into 2022, with the aggregate supply expanding by 6.8% in the first six weeks of the year. <\/p>\n<p>The Financial Stability Board, an international body that coordinates the efforts of financial regulators on a global scale, has called for action on stablecoins in its 2020 and 2021 reports and has set July 2022 as a preliminary deadline for establishing regulatory frameworks in national jurisdictions. Stablecoin regulation is further complicated by the emergence of decentralized U.S. dollar-pegged stablecoins that are uncollateralized such as TerraUSD (UST), with no \u201cone size fits all\u201d solution for regulators.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Governments_are_playing_catch-up\"><\/span>Governments are playing catch-up<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The report also dives deep into developments throughout H1 2022. Another sector covered is central bank digital currencies. With progress on CBDCs in no less than 91 countries around the world, governments are awakening to the potential of digital currencies. The future marches on, and lawmakers have significant work to do to bring regulations to the floor that foster innovation but allow the mainstream adoption of digital assets. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/73e8b112-f2cf-4bb8-af66-b130a78d0835.jpg\"><\/figure>\n<p>CBDCs could result in enhanced tax compliance and better tracking of financial transactions but could severely hinder cryptocurrency adoption and even replace some decentralized digital currencies outright because they profit from the stability and trust government bodies inspire in many consumers.\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"consulting_newsletter\"><\/template><\/p>\n<p>Anyone interested in crypto, blockchain, and the industry&#8217;s future is welcome to read this report and access the regulation database that tracks the latest developments. Crypto needs regulation, but it has to be the right kind. With forward-looking regulation that makes sure progress can happen, and governments foster innovation, cryptocurrencies can truly fulfil their promise of a more equitable future and a renewal of the financial system.<\/p>\n<p><em>This article is for information purposes only and represents neither investment advice nor an investment analysis or an invitation to buy or sell financial instruments. Specifically, the document does not serve as a substitute for individual investment or other advice.<\/em><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/crypto-needs-regulation-but-should-be-done-right-report-and-database\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Crypto needs regulation but should be done right: Report and database &#8220; Regulatory attitudes toward crypto are constantly evolving, often at a slower pace than the crypto industry itself. Institutions and the broader public will not seriously consider working with cryptocurrencies without clear and comprehensive regulation. Furthermore, the industry suffers from widespread scams, phishing&#8230;<\/p>\n","protected":false},"author":1,"featured_media":446157,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvNGI3Y2Q5MGItYjQ0NC00MzZhLWE0MDgtNzljMjNlNmU0NTUwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75952,74868,95118,74355,70934],"class_list":["post-446156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cointelegraph-consulting","tag-defi","tag-nft","tag-adoption","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/446156","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=446156"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/446156\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/446157"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=446156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=446156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=446156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}