Right now, the crypto market looks like grandmothers trading on the curb with bedsheets in the 2000s. Grandma could take some seeds, roast them at home, and bring them out for sale.
This is exactly how crypto looks right now; it's neither bad nor good, it's a young market and every market starts from something. For grandmothers on bedsheets to turn into a market with bathyscaphes, rows, and a wide assortment - regulation is necessary.
The crypto market also needs regulation for development because if we discard the fairy tales about cryptocurrency being something very cool, anonymous, and decentralized, crypto is just a bunch of private firms with investors, shareholders, and others. For this market to grow, it is necessary for capitalization to increase. A couple of years ago, to double the capitalization, it was enough for 2-3 Elon Musks or 2-3 funds to enter; now, to double the capitalization, huge sums are required. Such money is with institutional investors (serious guys with billions) who will never invest such amounts in a market that resembles 'grandma from the 2000s' because at a certain financial level, a fund, company, or private investor can no longer afford to buy something like a hamster with a thousand dollars on the principle of 'what if it grows.' Each investment at a higher level must be within a plan, justified with a positive mathematical expectation, and most importantly, the money must be relatively safe. At the moment, there is no safety; any scammer can create a token, an exchange, get money, and disappear with it, ruining the landscape, with bags filled with debngs. Holding anyone accountable is a huge and complicated task.

The conclusion is this: without regulation, there is no 'to the moon' in sight, without regulation, there will be no development. Each subsequent cycle requires increasingly larger total market capitalization, and with each cycle, it becomes harder to achieve.

For those with rose-colored glasses who will throw arguments like 'crypto is meant to be DEX' - calm down, study the issue, and don't make me laugh. Cryptocurrency (product) is BTC, DOGE, LTC, and a few other coins; the rest are private ventures that provide a service or technology, and just like Apple, Google, Panasonic, and others in their time, to emerge from the basements, they must step out of the shadows.

There is also a 'gray' part of the market, but more on that later...

Closed club - $