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For the crypto market, 2022 has seen both definite lows and uncertain surges. Last month, an analysis from TIME predicted that things might not change anytime soon — stating that some experts say “Crypto prices could fall even further before any sustained recovery.”
Though the market reached all-time highs in 2021, crypto’s future hinges on a combination of factors, including regulations — like the ones proposed by the Biden Administration this past spring.
Part of President Biden’s executive order (EO) on cryptocurrency-focused heavily on protections, both for enterprises and consumers that wish to take part in the hot digitized financial market — which is still very much in its infancy.
The cryptocurrency market’s infancy is precisely why the protections are needed. Biden’s EO notes that “around 16% of adult Americans – approximately 40 million people – have invested in, traded or used cryptocurrencies.” There’s room for innovation, of course, but also plenty of potential for scams, threats and bad actors.
Cryptocurrency’s threat landscape
A new report by digital trust and safety company, Sift, paints an eerie picture of just how pervasive crypto scams are, revealing that 43% of those who engaged in the crypto market have encountered scams. Startlingly, it also found that 22% of those…
