Throughout the past years, agencies in charge of regulations worldwide have put more scrutinization on the crypto sector. Going into the future, the trend will very likely stay on its course, per Alex Wearn, head of crypto exchange platform IDEX. 

Specifically, Wearn reportedly believed that after an extended amount of time regulatory overwatch level has been increased, governmental bodies have not decided to make changes to their approaches. 

“Crypto regulation itself hasn’t really changed the last few years. Instead what we’ve seen is an increase in enforcement actions, and stronger guidance from regulatory bodies. I believe we’ll continue to see enforcement actions that help businesses and entrepreneurs understand what types of activities are allowed and what are not.”

Previously perceived as the Wild West, the crypto sphere has reportedly undergone numerous changes to achieve maturity. Following 12 months full of redundant speculations, hype and fundraising in 2017, several national and international governments have taken initiatives. 

After a while, regulation has reportedly been the regular topic for crypto-related media content, with the past weeks witnessing an increased level of governmental initiatives. 

The US DoJ, along with the CFTC, reportedly made accusations against top-tier crypto exchange platform BitMEX, for instance. 

Agencies in charge of regulations have reportedly also brought additional clarity into a few particular guidelines, as can be viewed in the Office of the Comptroller of the Currency’s statement on banks’ crypto custody abilities.

“Crypto regulation is still in its infancy, but we’ve seen some major developments this past year in the forms of CBDCs and tax policies,” SaSasha Ivanov, co-founder and current Head of blockchain-powered token building platform Waves, reportedly remarked.