In 2021, we witnessed many developments in the regulatory landscape of the cryptocurrency sector, with authorities targeting stablecoins, decentralized finance (DeFi), nonfungible tokens (NFTs), crypto assets, smart contracts, unhosted wallets, central bank digital currencies (CBDCs) and so on. Still, most of these decentralized innovations remain in the gray zone of regulation globally, which only slows down the innovative impulse. With the rapid development of Web 3.0 and the Metaverse, the need for proper regulation — and the question of which must adapt, crypto to regulation or vise versa — is greater than ever. Yet, there is no time for consideration, as it is time to act.
To gain more insight on the matter, I reached out to different experts from the crypto and blockchain industry, asking them: “In your opinion, has the crypto space reached any milestones in 2021 in terms of regulation? And what do you expect from regulators in 2022?”