According to ChainCatcher, CryptoQuant founder Ki Young Ju posted on X that cryptocurrencies and Web3 are not scams as long as they are well regulated.

Ki Young Ju said that Web3 enables borderless collaboration and value creation through token-based incentives, and its function is more like a protocol than a company, marking a revolution in the way humans cooperate.

He noted that while multinational companies like Google employ hundreds of thousands of people, the Web3 protocol could one day involve millions of people. Scams do exist, but this should not overshadow the huge potential of blockchain technology.

With smart regulation, Web3 can transform into a stable, trusted space. With the right rules, Crypto and Web3 can thrive responsibly. One day, governments will make this happen.

He stressed that how long it takes is a question, which is why he prefers politicians who are interested in cryptocurrencies, even if some of their views are extreme. Without interest, nothing can be done and regulation will not develop. This is the situation in South Korea right now. He hopes that politicians will speak freely about cryptocurrencies to promote progress.