CryptoQuant CEO Ki Young Ju has emphasized that regulation is key to the long-term development of Web3 and cryptocurrencies.
In an X post on September 29, Ju argued that a regulatory framework is necessary to reduce scams and build trust, arguing that crypto and Web3 can âevolve responsibly.â
Juâs comments have sparked debate in the crypto community. While some support his views, others have expressed concerns about the potential impact of regulatory oversight.
Web3âs potential and the need for oversight
Ju noted that Web3 provides âunlimited collaborationâ and operates more like a protocol than a company. However, he emphasized that the industryâs reputation, which has been tarnished by scams, requires âsmart regulation.â
Mixed reactions from the crypto community
The community has had mixed reactions to Juâs views on the need for regulatory oversight. While some support regulation, others see it as a threat.
Centralization of regulation
In response to Juâs post, concerns were raised that regulation could become centralized and stifle competition. Some users argued that markets could become âself-regulating.â
What do you think? Share your thoughts in the comments.