“Regulation is probably one of the biggest overhangs in the crypto industry globally,” says Jeffrey Wang, head of the Americas at Amber Group, a Canada-based crypto finance firm. “We would very much welcome clear regulation.”Scallop Founder & CEO Raj Bagadi echoes this sentiment, "the path to global adoption of cryptocurrency can only occur with regulation. This is why we work in concert with regulators in the countries that Scallop operates in, and also it's the premise behind Scallop Chain - the first regulated blockchain."
Most of the trading that goes on in the crypto world today is not regulated by any federal authority, and that’s a big gap,” says Massad. “That means that investor protection is much, much weaker on these big exchanges than it is in our securities markets or our futures market.”
“In reality, you kind of have three possibilities: no regulation, bad regulation, good regulation,” Klein says.