2022 Will See Greater DeFi, NFT Regulations: Cardano Founder

KEY POINTS

  • Hoskinson said the crypto space will have to digest the consequences of growing so big so quickly
  • He said there was a DeFi and NFT mania in 2021
  • Cardano will gradually transition into a permanent open source project

Charles Hoskinson, the founder of Cardano blockchain, said that the DeFi space is going to witness a lot more regulation in 2022.

“New people will enter the (crypto) industry and there are probably going to be a lot of regulatory events, especially in DeFi side. We saw a DeFi and NFT mania in 2021 and we are probably going to see regulatory stuff hitting in 2022 and 2023,” Hoskinson said in a YouTube broadcast titled, “Little Bit of Everything”. 

He added that 2022 will see the construction of a new world called metaverse as people are tired of the old world.

The Cardano founder also talked about the government’s perception of crypto, claiming that crypto is considered an evil thing. 

“We are out here to try to change everything. We are not the people who charge 85% interest on loans; we are not the people who launder money for drug lords; we are not the people that start wars; we are not the people that sanction countries causing catastrophic harm to children.” 

“We are not the people who do any of these things. The vast majority of financial crimes are committed using good old-fashioned dollars, most times cash. But yet somehow, crypto is an evil thing and must be destroyed. It’s sad,” he said. 

He further said that in 2022 the crypto industry is going to digest the consequences of growing so big so quickly. Hoskinson says it is hard to argue with the $2.5 trillion industry and imagine where that’s going to go. 

“2022 is going to be a really interesting year. It is hard to say if we are going to have as much growth this year as we had in 2021.” 

“I think we are just going to digest as an industry for better or for worse of becoming so big so quickly. Lot of education, a lot of tools need to be built and a lot of hard work needs to be done to enable the future that we keep preaching as an industry,” he said. 

Hoskinson said Cardano will gradually transition into a permanent open-source project comparable to the Linux operating system. 

Cardano hits 1M staking wallets. Photo: Pixabay