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Summit g20 cryptocurrency

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Experts believe that the most affected due to regulation would be the top crypto projects. In this context, the G20 nations are coming up with a set of strict crypto regulations. Whether the regulations would actually help the crypto industry grow or rather hamper it will only be seen in the future. Meanwhile, crypto investors are not too keen on regulation as it could mean slowing down of adoption. Here are the major cryptocurrencies that could have the highest impact due to the G20 Summit regulation.

The rules are aimed at reporting of tax information on crypto transactions in a standardized manner. With Bitcoin BTC holding a significant share of the total market value, the regulators could be looking at regulating the top cryptocurrency. The high volatility of BTC could come under the scanner. The memecoins stand a high chance for regulation thanks to their volatile nature. However, they lost a major chunk of the value in The much anticipated Ethereum Merge did not turn out to be profitable for crypto investors as ETH dropped after the successful completion.

The developers, however, hinted that it could take time for the Merge event to be priced in. Nevertheless, crypto regulators would be looking closely at the second most valuable cryptocurrency. The collapse of Terra network earlier this year had a catastrophic effect on the entire market. The Terra collapse marked the onset of the bear market. This makes Terra Classic the one project that needs a lot of regulatory attention.