Some experts, including the Chairman of the Commodity Futures Trading Commission (CFTC) Christopher Giancarlo, believe that the cryptocurrency market could mature and develop with practically no input from the authorities. This may seem strange, but in this case I completely disagree with him. I will try to explain why. In my opinion, either time or major global players are needed for the appearance of a strong, self-regulated market. But in the XXI century there is simply no time for another “great depression.” Meanwhile, the centralization of influence in the hands of a limited group of major players is fundamentally opposed to the foundations of the cryptocurrency market. Gone are the days when participants tended to brush aside regulators like troublesome flies on a hot summer day: just let us hold our ICO and collect money as quickly as possible, and I couldn’t care less what happens after that. The market has changed profoundly; it has passed through its infancy and formative years, and is now ready to accept the rules of the game of existing global and local regulators. This does not mean that it needs to be immediately shackled with strict rules and laws, as we are seeing in some countries. It means that it needs to fit organically into the existing world economic system. Then all market players could work for the good of one another.
https://bitcoinist.com/cftc-chairman-no-harm-regulation-crypto/