The CEO of CryptoQuant, Ki Young Ju, encourages the cryptocurrency community to adopt smart regulation as vital for the sustainable advancement and growth of technology and coins. In a post on the X platform, Ju detailed how important it is for a regulatory structure to tackle scams and enhance trust in the space.
Ju pointed out that the development of Web3 indicates a change from traditional enterprise structures toward a collective interaction model with the promise of engaging many people globally.
He remarked that while organizations like Google work with extensive teams of people, Web3 systems could also bring in millions of contributors, leading to a notable evolution in how individuals unite and collaborate.
According to Ju, the industry’s reputation has suffered due to scams, and he pointed out the urgent requirement for smart rules to reduce these dangers. He also pointed out that safe development for crypto and Web3 depends on the right regulatory actions. In time, the administration will address this. When will the answer come?
CryptoQuant CEO’s Regulation Call Sparks Community Division
The push for legislation triggered fierce conversations in crypto, with crypto users sharing support and skepticism. Some users agreed with him about the necessity of regulation; however, others expressed worries about the effects of such measures.
One commenter expressed concern that rules could hinder the chances of significant gains in the crypto sector. A user coldly proposed that the community stay safe and trust others to make the decisions instead of regulators.
Those who criticized Ju indicated that centralization of regulatory control might form monopolies and restrict competition in this field. A participant pointed out the lapses in human decision and considered that allowing markets to self-monitor could be a reasonable solution.
Ju ignited a new argument about centralizing influence in the cryptocurrency industry. He mentioned that 55% of the power in the Bitcoin network rests with China and draws attention to the risks of concentration in the crypto space.
This discovery has intensified talk about the influence of concentrated authority on the decentralization principles cryptocurrencies seek to preserve. The cryptocurrency community is still split about regulatory controls’ future advantages and drawbacks.
