“Carpe Consensus” is a show for crypto fans and foes, DeFi degens, non-fungible enthusiasts and welcomes the crypto curious. Each week, hosts Ben Schiller, Danny Nelson and Cam Thompson seize the world of crypto, debating the latest in industry and community news alongside guest experts and commentators.
With PayPal recently announcing crypto services for millions of customers, it seems the crypto industry has passed another acceptance milestone.
But, with that acceptance comes greater responsibility, says Ajit Tripathi, a long-time consultant working at the top of the industry.
Going forward, crypto can expect greater regulatory scrutiny and higher compliance costs. Times ten, says Tripathi.
On the Opinionated podcast this week, Tripathi discusses his recent op-ed “Bitcoin Is Good for PayPal, but Is PayPal Good for Bitcoin?” where he compares the costs of setting up a neobank in the U.K. (like Monzo) with creating a DeFi protocol this summer.
At the moment, the former comes with millions in compliance costs and the latter comes with none, and customers are not protected, he says.
As mainstream players, like PayPal, enter the market, Tripathi argues it’s inevitable that regulators will intervene. After the last financial crisis and following the ICO run-up, they feel obliged to take notice.
Listen in as Tripathi describes the regulatory challenges facing the industry as it becomes more popular.
Find Ajit online: twitter.com/chainyoda
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
