Crypto Regulation: Is Now the Right Time?

Alisha Deo

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• The article talks about the current state of crypto regulation, and why it may be best to wait before implementing any sort of regulatory oversight.
• It critiques those in charge, such as Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell, for their inability to effectively manage the economy.
• With inflation still a problem and many people shut out of the American dream, introducing new regulations into the crypto space may not be ideal.

Why Regulation Should Wait

Everyone keeps talking about crypto regulation as of late. It appears the topic has gained a lot of steam since crypto exchange FTX collapsed into a steaming pile of bankruptcy and fraud. Under normal circumstances, a situation like this would indeed serve as a bridge to regulation, but in many ways, right now is probably the worst time to instill any sort of regulatory oversight in the crypto space.

Incompetence in Charge

There are many reasons for this, one big one being who’s in charge. When one considers the level of incompetence they’ve witnessed over the last few years, they realize that those tasked with running their countries (and ultimately, the world) aren’t up to the job. Look at Janet Yellen, for example. This is a woman with a Ph.D. in economics from Yale. Serving as the United States’ current Treasury Secretary, Yellen commented in 2021 that she felt inflation was a problem that would ultimately fix itself – despite her qualifications and education otherwise suggesting otherwise! Under Yellen’s hand, the U.S. economy has fallen into a complete state of disarray with food and gas prices reaching new highs and job numbers continuing to be disappointing – all while Jerome Powell’s rate hikes have only made matters worse throughout 2022-2023 period .

An Unstable Foundation

Do we really want someone like this to have anything to do with the crypto industry? She can’t even handle standard finance which has been around for hundreds of years let alone cryptocurrency which is still relatively infantile by comparison! Right now cryptos prices are trying to make a comeback after suffering at these unreliable hands but unfortunately not much has changed when it comes America’s economic downfall; inflation is still an issue while many people have been shut out from achieving their goals due to unaffordable interest rates on loans etcetera .

Conclusion

All things considered , perhaps its fair say that regulating cryptography under these conditions might not be ideal – especially when those responsible for running our countries (and thus influencing how we handle money) don’t even seem qualified or knowledgable enough on how economics work themselves!

Final Thoughts

Crypto fans should wait until there are more capable players involved before asking for any kind of regulatory oversight or implementation – both because it doesn’t seem like anyone knows what they’re doing right now and also so we can ensure that whatever rules come into place will actually beneficial instead just detrimental as unfortunatley seems too often case currently!

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