Governments are looking into regulating the currently decentralized cryptocurrency space, and that’s a good thing for the market.
So said Fortune senior writer Jen Wieczner.
“I think it’s going to be very good for prices, because you’re going to allow for investment in big companies that have already embraced regulations,” she said in an interview with Cheddar Friday. “I think you have a lot of investors now, especially institutional investors, who are waiting on the sidelines, because they don’t want to be involved in a scam or their compliance department don’t allow them to.”
Mexico was the latest to crack down on money laundering and illegal activities in cryptocurrency. Reuters reported the proposed legislation, which is waiting for approval from President Enrique Peña Nieto, will regulate fintech and promote financial stability in cryptocurrency.
Similarly, the SEC launched a probe into the operations of American tech companies handling crypto this week. The Wall Street Journal reported that the watchdog is looking into the process of Initial Coin Offerings, trying to weigh whether firms have been violating securities laws.
Wieczner said that some companies will not stand up to the scrutiny.
“For some of them, regulation is likely going to completely knock them out,” she said.
Interest in the concept of the metaverse is heating up as more companies get on board, and Cathy Hackl, CEO of Futures Intelligence Group, a metaverse-focused consultancy, joined Cheddar to talk about trends to watch out for in 2022 and what it will take for it to be more than just a buzzword. Hackl noted that businesses likely will have to consider big technology upgrades in the upcoming year in order to keep up. "We're going to need new levels of computing power to be able to enable shared virtual experiences, both in VR but also in augmented reality," she said.
Ron Gutman, Co-CEO of Intrivo, joins Cheddar News to discuss how the company is creating a test and tech solution for Covid testing called 2Gather, and how it's using data-driven digital diagnostics to make these tests widely available and affordable.
The metaverse took the world by storm in 2021 and it is just the beginning of the virtual universe. Consumers are jumping on board and companies like Meta and Roblox are already taking advantage. Entrepreneur Andrew Duplessie joined Cheddar to discuss how the metaverse will impact the future of socialization and business. "If I'm doing anything right now, I'm building an app, I'm jumping into that ecosystem, and I'm testing it. I'm seeing what people think," he said.
