Amid crypto crash, some market players argue for less regulation but more clarity

RECENT troubles in the cryptocurrencies space might cause authorities to tighten laws, but some market players believe governments that over-regulate might be doing so at their own peril.

Speaking at a panel at the 4th Annual Security Token Summit in New York City on Monday (May 16), US Congressman Tom Emmer warned that legislators could potentially “come rushing in to try and protect people from their ability to take their own risk” after the recent meltdown involving stablecoin TerraUSD and its sister token Luna. 

“That never ends well,” said Emmer. Instead of more regulation, Emmer suggested markets need “more clarity and certainty” in order to allow financial innovations to “grow and prosper”.