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Series of regulatory moves, announced recently for the crypto-verse, have been seen as a positive move, according to Fundstrat Global Advisors LLC.

Popular regulatory authorities like the U.K. Financial Conduct Authority banning the sale of crypto derivatives, and the U.S. Department of Justice issuing an enforcement framework is beneficial in the long term, because they will help in curbing criminal activities from becoming prevalent in the most disruptive financial industry.

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They stated that regulators “cleaning up bad actors” had also helped.

“Actions unsurprisingly indicate the U.S. and global regulators are committed to stamping out the illicit activity, securities violations, money laundering, price manipulation, and noncompliance with banking regulations,” the strategists wrote.

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“On balance, we view recent news as a positive for crypto markets, despite select smaller pockets of risk, and we believe the prevailing bull market trend is intact,” they said.

Recall Nairametrics some days ago broke the news on how the United States Department of Justice took its attention to some of the illicit activities going on in the crypto industry, which had significantly dampened the optimal participation of global Investors.

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The US Attorney General released an 83-page report, centered around the “Cryptocurrency Enforcement Framework.” The report is targeted at entities who participate in the following:

  • engage in financial transactions associated with the commission of crimes, such as buying and selling drugs or weapons on the dark web, leasing servers to commit cybercrimes, or soliciting funds to support terrorist activity;
  • engage in money laundering or shield otherwise legitimate activity from tax, reporting, or other legal requirements; or
  •  commit crimes directly implicating the cryptocurrency marketplace itself, such as stealing cryptocurrency from exchanges through hacking or using the promise of cryptocurrency to defraud unwitting investors.

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Fundstrat however remained wary that some areas within the crypto-verse might be vulnerable, given the regulatory trajectory.

“We do see select crypto market segments as more exposed to regulatory risks than others and are worth watching closely, with projects in decentralized finance — or DeFi — coming under pressure for a lack of know-your-customer and anti-money-laundering protocols,” the strategists wrote.

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