Crypto Conferences Scale Back
The crypto winter has been long and harsh, and as a result, crypto conferences are toning down the lavishness. Attendees are no longer interested in DJs and parties; they want to focus on discussing regulation and tax issues. Tiffany Fong, a popular crypto vlogger, attended her first crypto conference this year and observed that attendees were more interested in asking intelligent questions and discussing regulatory issues, rather than enjoying the extravagances of past events.
While the XRP Las Vegas conference for XRP enthusiasts and the “XRP Army” took place in the United States gambling capital on May 6 and 7, frustration over regulatory clarity in the United States dominated the discussion. XRP fans asked “well-thought-out, intelligent questions,” but also expressed frustration with the Securities and Exchange Commission’s (SEC) lawsuit against Ripple. Attorney John E. Deaton, an active social media commentator during the SEC's lawsuit, said that the frustration was not due to fear but because of the length of time it is taking to achieve regulatory clarity.
Regulation was also a top concern at Binance Australia's recent meetup event on May 3. According to Ben Rose, general manager for Binance Australia and New Zealand, regulation was the most popular point of discussion among attendees. Despite the ongoing bear market, interest in crypto remains strong, and Rose noted that there is still “interest from the crypto-curious” with newcomers asking beginner-level questions.
The frustration and concern over regulation are understandable given the SEC's recent actions against several crypto firms. Many in the crypto community are frustrated with SEC Chair Gary Gensler's “regulation by enforcement” approach to crypto. Nevertheless, interest in crypto remains strong, and Australian crowds are starting to get excited about the potential for a bull run as the price of Bitcoin creeps up.
In conclusion, the crypto winter has forced crypto conferences to become more serious and focus on regulatory issues, which is a positive development for the industry. Attendees are no longer interested in the extravagances of past events but are instead asking intelligent questions and discussing regulatory issues. The frustration and concern over regulatory clarity remain high, but interest in crypto remains strong, even in the face of ongoing market volatility.