The market cap of cryptocurrencies has grown to the point where mainstream financial industry players are jumping on the blockchain bandwagon with greater fervor than ever. NFTs make headlines (and paydays) for famous and obscure celebrities alike. Meanwhile, regulators in Beijing and Washington are ramping up their efforts in the space, each in its own way. In China, the moves are headline-grabbing and interventionist, while in the U.S., the approach is shambolic, incrementalist, and heavily influenced by the industry subject to the regulation. But both paths lead to greater government control over the cryptocurrency industries.
Click here to access the article.