The downfall of terra, influenced euas, minka regulation, whats happening everyone be sure to smash that, like button and ill keep you guys updated with more news. The entire globe witnessed the downfall of terra. The magnitude of this fall was so detrimental that regulators from across the globe decided to probe um, so whats really really important is the collapse of usd changed at all. Several governors were keen on regulating uh the market and thats whats, really really crazy. Terra luna is changing the world for better or for the worse. Several governments were keen on regulating the entire market. Um and stable coins became their priority. Similarly, the european union has been working on the markets in crypto assets framework since 2020.. Its brought the life that u.s policymakers have finally agreed on law that would govern the cryptoverse um and a regulation of markets. Single law would come in first in 2023, but right now its changing, like i told you guys, terra just changed the world and its gon na get crypto more regulated. Does this mean its gon na get more accepted? I hope so. I hope the governments are gon na be like okay. You can buy crypto now in banks right its its right now impossible to do that. But member of the european uh ernest took to twitter to address the regulations surrounding stablecoin. He pointed out that there would be a cap of 200 million euros in transactions of stable coins per day was known that the large, stable coins would be overseen with stringent operational and prudential rules.

Thats, because also you is making their own stable coin, which is completely fine right, but they want to keep stable coins regulated all of these stable coins, theyre not regulated and theyre, taking a huge hit, theres a lot of decentralized stable coins out there that are not Regulated that are much smaller, dont worry theyre, not like you know the top five stable coins, but a lot of them. People were holding and people lost, like terra luna, so whats really important. Is this? What what is this going to do, but mika provides safeguards again? Cases like crypto crash the collapse of stablecoin and luna usd stablecoins will have to maintain reserves to cover all claims and provide redemption rights to holders just like tether is doing so. You know theyre going to be doing something, so nothing like terra luna repeats itself, and a lot of people are now asking what will happen to tara luna classic. You know what will happen after a project fails will still get updated and thats. What i think is really important: a lot of people are still hoping um for it to be just like that, for for it to be still developed after terror classic, but the team from luna has made no indications so far that they will gon na be working On it, um so theyre gon na be regulating everything uh from cryptocurrencies that have no backing to trading platforms as well as wallets. The framework qualifiers at all turns out tara wasnt.

The only influence of the framework, the ongoing bear market also played a part. So, like the mika regulatory framework said today, we put a wheeled wild west of crypto assets and set the clear for harmonized market. The recent fallen value of digital currency shows highly risky speculative and there its fundamental to act. Consumer protection would be upheld in the latest framework trading platforms would be required to provide white papers for assets with no proper issuer, while bitcoin does have a white paper. Other assets have anonymous, founders are likely to be in trouble, nfts have just started to garner attention and there they would be regulated over the next 18 months. They are now at all time low. Even though this clear regulation are pertinent, the fact that the very first compressive regime for crypto asset role was influenced by terra did not seal well in the community, so its gon na get regulated and people do not like that people do not like theraluna being uh, Like this i mean a lot of people are not happy with this, but it is what it is. The bear market and tara luna did a whole unfortunate event. Thats gon na change the world forever. Never in a history has crypto crashed that much not even 2018 and thats.