The crypto market is growing so rapidly that it resembles a wild savannah: a vast expanse of opportunity and no rules except the law of the strong. But can this chaos turn into something structured? Do we need a single law for cryptocurrencies to avoid a global financial Armageddon?
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The Wild West of Cryptocurrencies
Today, cryptocurrency is almost like a Western: someone plays the role of a cowboy looking for gold, someone is a cunning conman, and some even play the role of a sheriff-loser (hello, regulators). Each country has its own rules of the game. Some welcome crypto with open arms (like El Salvador), while others are ready to burn any Bitcoin wallet at the stake (hello, China).
And what do we have as a result? Investors are afraid of the regulatory sword of Damocles, and governments are nervous about tax losses.
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CryptoConstitution – myth or necessity?
Imagine a single global document that regulates everything from tokens and NFTs to stablecoins. Some will say, “That’s impossible, because cryptocurrency is freedom.” But is freedom anarchy? Isn’t a minimum set of rules needed to avoid financial catastrophe?
For example, cryptocurrency exchanges are required to adhere to uniform transparency standards. Or the state cannot simply "freeze" your assets without a proper court order.
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Who will write these rules?
This is where the fun begins. If the world's banks are entrusted with writing the laws, then Bitcoin will become like another credit card with a 30% commission. If the crypto community does this, then we will get something like a manifesto "Everyone is free, do what you want."
What about governments? They want to maintain control, so a cryptoConstitution from governments will be more like your contract with an ISP – fine print and hidden penalties.
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Freedom or structure?
The real question is balance. We want cryptocurrency to remain free from the yoke of banking, but not become a tool for money laundering. We want stability, but without bureaucracy.
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Conclusion: revolution or evolution?
Perhaps, instead of a global crypto Constitution, the world will come to "soft rules" - a set of recommendations that will ensure transparency and minimal guarantees for users.
But the question remains: is the world ready for such changes, or are we doomed to live in eternal cryptocurrency chaos, where it's every man for himself?
