'Not all crypto markets will end up regulated. But nor do they need to be for the industry to succeed. I’ll go even further – nor should they be,' writes NoelleInMadrid. Opinion.
, which cited regulatory issues as one of the top barriers to investment.
This stems from the institutional mindset. Most institutions can only transact on regulated exchanges, and all institutions want to avoid future legal issues. What’s more, most crypto market firms want institutional clients, for the transaction volumes and willingness to pay for services. So crypto regulation is verging on an obsession among service providers and a meaningful chunk of investors.
The role of choice in regulation is not so obvious. We’re taught that we have to obey the rules, but this isn’t true. We can ignore them , but there is a price. Sometimes the cost is high , sometimes not so much . We evaluate the trade-off – and for most, there are moral and social costs as well – and we act accordingly. But the choice is ultimately ours.
Institutional investor involvement in crypto markets is good. It is a sign of success. But the outsized weight of its influence has led to the conflation of “crypto potential” with “institutional needs.” This makes it easy for us to forget that crypto emerged retail-first, with hundreds of thousands of individuals leading the way. That, in turn, tends to hone focus on fitting a square peg into a round hole because regulators insist that current rules can cover our industry.
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