2022 Will See Greater DeFi, NFT Regulations: Cardano Founder
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2022 Will See Greater DeFi, NFT Regulations: Cardano Founder

BTC Peers reporter
BTC Peers reporter

According to Charles Hoskinson, the inventor of the Cardano blockchain, the DeFi industry will see more regulation in 2022. In a YouTube program titled "Little Bit of Everything," Hoskinson said,

"New players will join the (crypto) business, and there will very certainly be a flurry of regulatory activities, particularly on the DeFi side. We witnessed a DeFi and NFT craze in 2021, and we are likely to see legislative changes in 2022 and 2023."

He further stated that in 2022, a new universe dubbed the metaverse would be built when people get bored of the old. Additionally, the Cardano creator discussed the government's attitude toward cryptocurrency, suggesting that it is bad. In his words, he emphatically stated,

"We are out here to attempt to alter the course of history. We are not the ones who charge 85% interest on loans; we are not the ones who launder money for drug lords; we are not the ones who start wars; we are certainly not the ones who censure nations that do catastrophic damage to children."
"We are not the perpetrators of any of these atrocities. The majority of financial crimes are perpetrated using plain old money, most often in cash. However, crypto is a bad thing that must be eradicated."

Related: Online Safety Rows, NFT Boom And Metaverse Skepticism: What Tech Will Look Like in 2022

In addition, he said that, by 2022, the crypto business would have digested the repercussions of its rapid growth. Hoskinson asserts that it is difficult to disagree with a $2.5 trillion business and see where it is headed. In his words,

"The year 2022 is going to be fascinating. It is difficult to predict if we will see the same level of increase this year as we did in 2021. I believe we are just going to absorb our industry's rapid growth, for better or worse. A great deal of education, many tools, and a great deal of hard work must be done to allow the future that we continue to preach as an industry."