Even though the cryptocurrency industry is not new to ups and downs, 2019 has turned out to be the year with the most surprising reveals. The long-lasting bear market of 2018 moved market analysts to call it the year of regulatory reckoning, leaving many jurisdictions uncertain about how to treat cryptocurrencies.However, 2019 also turned out to be the year of the comeback.
Enter the new year immediately,Why not review the hot topics of crypto in 2019?
I agree, I think this year is the year that was meant for for high regulatory scrutiny. The crypto scene has been very disruptive for the past for years. The ICO scene was so wild it was being compared to the Wild West, from time past where regulation, policies, and law itself operated on some rough and really murky waters due to there being no proper enforcement agencies on the scene. The U.S as we know it was still a young budding, developing country in the midst of building a solid enough foundation to stand on. Mean while at that time civil unrest was happening between the American north and American south. A lot of time, money and energy went into actually uniting the states as many where divided.
During this period, the western states where rural, ranging from prairies, to mountains, to valleys and desserts. A lot of these territories didn't have a strong enough law enforcement, and thus the scene was called the Wild West. In order to get a clearer picture of the scene, just check out an episode of one of these old "American Western" (shows) portraying those times and events, like "Guns Smoke", "RawHide", "Bonanza" and the "Rifleman" just to name a few.
The Crypto scene at the time was very similar, a little unorganized and and very unregulated. Regulation was bound to happen, it is the only sure way to get institutional investors involved. In my opinion, the only way to push forward is to find a middle-ground with the policy makers and regulators and reach a compromise that leaves us with clear guidance for navigating within these murky waters and gray areas of law.