The head of hedge fund ANB Investments, Jaime Baeza, said that while the crypto industry is poorly regulated and has no clear rules, this provides many opportunities for experimentation.
Jaime Baeza noted that different countries have different approaches to regulation, and this greatly complicates the life of cryptocurrency companies. However, he says, “while it may make more sense to develop the same rules for all countries, such an approach risks destroying all competition and stifling innovation.”
The cryptocurrency industry is very young and the main thing to understand is whether regulation is working or if it is holding back the industry for no real benefit, said the CEO of ANB Investments. Regulation must go hand in hand with the area it affects, otherwise nothing will come of it, he believes.
Baeza also cited key factors in attracting new investors and broader adoption of Web3, saying that so far, the flow of new organizations into this area is kept at a high level, as more investors try to make a profit.
“Main drivers for adoption will be greater regulatory clarity, increased knowledge of digital assets, and greater acceptance among both the public and traditional financial systems,” Baeza said.
Chris Dixon, founder of Andreessen Horowitz’s (a16z) crypto-currency division, said earlier that Web3 and digital currencies could displace large Internet companies from leadership positions.
Source: Bits
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