None of that has turned out to be true. In contrast, the onset of regulation is strengthening trust to the industry and is promising to be a great boon to the industry. Since Bitcoin emerged 12 years, entrepreneurs have created thousands of types of virtual assets, including stablecoins. Bitcoin and ether both hit new all-time highs in 2021 amid a wider rally in crypto markets, which are now estimated to have surpassed $3 trillion. Rather than smothering development, regulation has helped ease concerns about crypto being the “Wild West” of finance and encouraged a broader range of investors. As it matures, the industry should not fear regulation, it should embrace it.