From some crypto advocates, I have heard this argument as well as a related one: that these experienced investors know what they’re getting into, and that they’re not asking for protection because they believe they don’t need it. Given all of that, the argument goes, why should anyone bring regulation into a space that’s not asking for it?
I hope that those present today, would fall in this second category because it is only from among those in the ranks of “forward movers” that the economy can leap ahead. In the case of the BSP, we do ask this question of “what lies ahead” many, many times, at every turn and even when we have already acted, we ask again.