2023-01-25 08:00:00

Crypto Ventures Can Take a Leaf out of TradFi: Raj Chowdhury

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Benzinga
By Pr Newswire

Crypto projects are finding it hard to raise capital for their upcoming ventures. The PayBito Chief suggests incorporating standardization similar to TradFi.

PALO ALTO, Calif., Jan. 25, 2023 /PRNewswire-PRWeb/ -- Investors are apprehensive about cryptocurrencies. Failed DeFi projects, stablecoin fallouts, FTX, and Celsius bankruptcy- several factors have contributed to this fear as the persistent crypto bloodbath reduced the overall crypto market capitalization by more than half. PayBito CEO Raj Chowdhury expressed his optimism in regard to the future but added that crypto ventures need to enhance transparency and implement tougher security protocols parallel to TradFi to sustain in the long run.

In the middle of the global outcry surrounding crypto regulation, Japanese financial regulators have pointed out that the root cause of the problem is the absence of crypto regulations, and lackadaisical internal control and governance. Dismissing the notion of crypto's underlying technology having any part, they have urged global regulators to treat crypto in the same manner as traditional banking and finance systems, with tighter control.

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