Actions in America against most crypto companies will be positive according to players

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MUMBAI: Market players view the crackdown by the US Securities and Exchange Commission and other regulatory bodies against some crypto companies as a positive for the industry, as investors will feel more secure with tighter oversight, according to survey participants.

60 percent of the 564 respondents to a recent survey said recent moves in the cryptocurrency market are a positive sign.

Scams have rocked the cryptocurrency market in recent months. Some of the recent interventions include regulatory investigations by the US against embattled crypto firms Three Arrows Capital and Celsius Network, and a US Securities and Exchange Commission investigation into Yuga Labs.

According to the survey report, an analyst opined that players require regulatory investment opportunities and such opportunities attract business investors.

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