The current marketcap of cryptocurrencies is more than $2 trillion and is unique because there is no regulation that regulates it, of course this is a serious problem for us, so there are always scam projects that are very detrimental to investors, without regulation then we walk without direction.
Scams can be avoided with proper awareness and knowledge, but they cannot be stopped completely. Here the importance of knowing what to invest in comes in play. It is a though thing for a newbie but this is necessary to survive in the market.
well, it is true that any cryptocurrency enthusiasts fervently oppose new regulations. They say it would hinder innovation and goes against the spirit of cryptocurrency, which emphasizes decentralization at its core.
Nope. There are many enthusiasts who are into crypto and earning it well, but unable to spend it on daily necessities because their country is not allowing it. Instead if it was regulated they probably would have a chance to sell their coins and earn some fiat money which they could spend or spend the crypto directly, either of which would be a use case. Therefore there is a big market boom that will happen post-regulation if it really happens.
and for these anti-regulation crypto enthusiasts, the decentralized nature of digital currencies is a big draw. So in this view, any new regulation would pose a threat to the decentralization that is a feature, rather than a bug.
Those who are against regulation include the criminals who are trying to use pseudo-anonymity of crypto to mask their wrong doings, mainly money laundering and tax evasion.