To guarantee long-term development and stability in the Web3 and bitcoin industries, CryptoQuant CEO Ki Young Ju has underlined the need of applying “smart regulation”. Ju contended in a previous piece that despite their promise, frauds sometimes ruin the sector and that credibility and confidence depend on government control.
Web3, according to him, marks a radical change in worldwide collaboration. Unlike conventional companies with thousands of employees, Ju sees a day when Web3 technologies involve millions, functioning more as distributed networks than corporate organizations. He underlined, although, that the realization of this potential would depend on the application of suitable legislative actions to stop dishonest behavior.
“With the right regulations, crypto and Web3 can thrive responsibly,” Ju said, noting that although rules would hold down short-term expansion, they surely would result in long-term stability. His concern was how long governments would take to act meaningfully on this front.
Regarding Ju’s attitude on control, the crypto community reacted differently. Some users agreed with the need of control and said that sensible rules might safeguard consumers without suppressing creativity. Others, less hopeful, contended that government intervention may compromise Web 3’s dispersed character.
One user voiced preferences for a self-regulating market as centralized rules may result in monopolies and corruption. Emphasizing the difficulty of juggling earnings with the fundamental ideals of the sector, another user cynically asked whether financial gain is the primary reason for adopting decentralizing, freedom, and privacy.
