Influencers Declare the Rise of ‘Crypto Spring’ in 2024
In 2024, big changes are happening in the world of cryptocurrency, as experts in the field are discussing and suggesting. The main idea for this year is that things are getting better after the tough times of the crypto winter. It looks like we are heading towards more stability, rules to follow and teamwork between regular money systems and the digital world.
Julian Sawyer, CEO of Zodia Custody, anticipates a notable transformation for stablecoins in the coming year. Clear regulatory guidelines from the UK government and the European Union’s MiCA law are set to elevate stablecoins from being mere settlement tools to integral players in the global payments network. With big names like Visa, Mastercard and PayPal already involved, stablecoins are poised for wider adoption.
Andrew Whitworth, policy director EMEA at Ripple, predicts that well-defined regulation will be the driving force behind a ‘crypto spring.’ 2024 is expected to witness the finalization of crypto asset regulations in Europe and the Middle East, bringing about operational frameworks and consultations in the UK.
Philippe Bekhazi, founder and CEO at XBTO Global, envisions a gradual merging of digital assets with traditional finance. While the potential approval of spot Bitcoin ETFs may not trigger an immediate revolution, it signifies a shift in mindset among traditional investors.
Phil Larratt, Director of Investigations at Chainalysis, warns of an increase in the sophistication of crypto criminals in 2024. Traditional criminals using cryptocurrencies make it hard for the police. Dealing with their tricky moves is a challenge. To handle this, we need more investigations, better training for the police and everyone working together – both the government and private companies.
Samantha Yap, CEO od YAP Global, says the industry is doing better and really paying attention to blockchain technology again. Following the FTX collapse, attention has shifted towards decentralization, with innovations like zero-knowledge rollups and scalable layer 2 networks gaining traction.
