Bitcoin was introduced to the world in 2008, and so far, it has captured the imagination of millions of crypto enthusiasts globally. From 1 cryptocurrency in 2008 to over 10,000 in 2021, the cryptocurrency industry has come a long way. Back in 2010, Bitcoin’s market cap was a meager $170,000, and today, it stands at over $618 billion, whereas the market cap of the entire cryptocurrency industry has crossed a figure of $1.51 trillion. Such astounding growth has caught the attention of financial regulators worldwide.
With the growing demand for cryptocurrencies, authorities are under pressure to regulate the crypto industry. After all, there are 106 million cryptocurrency users worldwide, and the global financial regulators will want to protect them. But is the crypto industry ready for regulations? Many crypto projects would answer in positive. But the truth is that a majority of cryptocurrencies in circulation today are irregulatable.
The Launch of Concordium
There is a lack of cryptocurrencies &