The Stigma Associated With Crypto Is Largely Unwarranted

Although cryptocurrencies have been widely available for around 15 years — if one counts from the introduction of bitcoin — the industry is still in an early phase of its evolutionary journey. The industry has suffered from growing pains, punctuated by several cycles of rapid expansion and retraction and by the well-publicized collapse of several businesses. As we have previously written, regulators have struggled to fit cryptocurrency into existing regulatory regimes, and attempts to impose regulatory oversight over cryptocurrencies have, on occasion, been met with stiff resistance. These factors have collectively shaped the public's view of the cryptocurrency industry, contributing to the formation of certain perceptions that do not necessarily accord with the broader realities of its use and applications.