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2022 – THE YEAR OF CRYPTO REGULATIONS



 Cryptocurrencies soon at eye level?

The USA and Russia do not seem to agree very much these days when it comes to cryptocurrencies. However, there is one thing the two governments seem to agree on: much-needed crypto regulation, according to Winston Ma, managing partner of CloudTree Ventures and author of The Hunt for Unicorns, China's Mobile Economy and Investing in China".


A cryptocurrency mining law is also under consideration soon, he said, an area the government hopes to tax. According to regulators, the recent spike in volatility has been hard-hitting and hard-hitting to expose serious vulnerabilities in the crypto-financial system.

Among other things, Ma discussed that 2022 could be the year of crypto regulations and that the crypto winter is particularly harsh.


David Lesperance, managing partner at immigration and tax consultancy Lesperance & Associates, explained:


The European Union has boldly stepped in with groundbreaking regulation to clean up and put an end to the cryptocurrency “wild west”. The “Markets in Crypto-Assets,” or MICA, is designed to make life difficult for numerous players in the crypto market, including exchanges and stablecoin issuers.


The events of the last few weeks and months have shown once again how important crypto regulations will be for the entire cryptocurrency sector.


Zhao of the most popular crypto exchange Binance recently confirmed that around a billion records of Chinese residents have been hacked, including names and addresses, national IDs, police and medical records.


He tweeted on July 2:  

Our threat database uncovered 1 billion resident records for sale on the dark web, including names, addresses, ID cards, cell phones, police and medical records from an Asian country. Likely due to a bug in an Elastic Search installation by a government agency.

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