Cryptocurrency regulation is currently a focal point for regulators and lawmakers all across the world. Regulators have been tightening the noose around the crypto industry to safeguard consumers from bad actors.
The colossal fall of the FTX crypto exchange has alarmed regulators even more, and lawmakers are trying to bring effective and efficient crypto regulation into place. Mark Branson, the president of the Federal Financial Financial Supervisory Authority (BaFin), the financial regulatory body in Germany, also shares the same opinion.
BaFin has ordered the global authorities to cooperate and sanction pertinent laws that apply to the digital asset sector. Branson has expressed that the laws would be helpful as they would provide extra investor protection and which could also prevent using the assets for illegal activities.
According to Mark Branson, the hands-off approach is not the way to go, and it is time to protect consumers. The digital asset sector has been expanding its conn
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