By Michael B. Cohen 5 minute Read
In the last few years, cryptocurrency has exploded into the world’s economy. As of 2020, its global market size was estimated at nearly $1.5 billion and is expected to more than triple over the following decade. The market cap of cryptocurrency is already measured in the quadrillions of dollars.
Despite exponential growth, investor losses have piled up. The bitcoin devaluation in the spring of 2021 wiped out over $14 billion of investors’ fortunes almost overnight. Billions more are the subject of theft in crypto scams.
It’s no wonder that financial regulators have begun to take notice. Recent statements by SEC Chairman Gary Gensler suggest that the rules governing traditional currencies would now be strictly applied to cryptocurrencies—particularly when it comes to money laundering.
Today’s cryptocurrency exchanges are worlds apart: At one end of the spectrum are large, stable, reliable ones, such as Coinbase, while at the…
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Source : fastcompany.com
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