CryptoQuant CEO Calls for Regulation to Drive Web3 Growth

Ki Young Ju, CEO of CryptoQuant, emphasized the importance of regulation for the future growth of Web3 and the cryptocurrency space.

In a post on Sept. 29, he argued that with proper regulatory frameworks, the industry could flourish while reducing scams and fostering trust.

Ju’s statement sparked a discussion within the crypto community, with some supporting his call for regulation while others voiced concerns about potential overreach.

Ju highlighted that Web3 promotes “borderless collaboration” and operates more like a protocol than a traditional corporation, potentially involving millions of participants in the future. However, he noted that the industry’s image is often tarnished by fraud and suggested that “smart regulation” is needed to support sustainable development. He expressed optimism that governments would eventually enforce the necessary rules but questioned the timeline.

Reactions to Ju’s remarks were mixed. While some agreed that regulation could lead to more responsible growth, others were worried about its potential impact on the industry’s profits and autonomy. One user claimed that regulation could limit the lucrative opportunities in crypto, while another raised concerns about giving regulators too much control, sarcastically suggesting that the community should just “play it safe and let others decide what’s best.”

Some in the community expressed unease about centralized regulation, fearing it could lead to monopolies and stifle competition. A user noted that human fallibility could open the door to corruption, advocating instead for market-driven self-regulation.