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ARTICLE · 31 JANUARY 2022

After ‘The Year That Crypto Went Mainstream,' What Follows?

Riker, Danzig, Scherer, Hyland & Perretti
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In 2021, the crypto space saw major advances in mainstream recognition, as evidenced by, among other things, Tesla's investment of more than $1.5 billion in bitcoin in February...

United StatesTechnology
Anthony Borrelli
Anthony Borrelli
Hunt Ricker
Hunt Ricker
Labinot Berlajolli
Labinot Berlajolli
​Robert N. Holup
​Robert N. Holup

In 2021, the crypto space saw major advances in mainstream recognition, as evidenced by, among other things, Tesla's investment of more than $1.5 billion in bitcoin in February, Coinbase's splash debut on the Nasdaq in April, El Salvador's decision to make bitcoin legal tender in September, the first bitcoin ETF hitting U.S. exchanges in October, bitcoin prices topping at $69K in November, and the passage of the Infrastructure Bill in November, capped off by a House Financial Services Committee Hearing on Crypto in December.

However, one major problem is a lack of clear regulation and coherent legislation. The industry deserves to be recognized for its growth and also demands sophisticated and appropriate legislation to reflect its maturity and buttress its legitimacy, but most importantly legislation that promotes innovation. Most industry participants would welcome additional oversight in the form of an industry-specific regulator in hopes it will bring clarity,

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