Regulators from all around the world are pursuing the crypto business. China has deemed all cryptocurrency transactions unlawful and has forbidden cryptocurrency mining. The European Union is developing a framework for crypto issuers and service providers to be licensed. 

In the United States, SEC head Gary Gensler seeks authority over a sector he refers to as the "Wild West." All of this regulatory concern comes at a time when digital assets are becoming increasingly popular. Bitcoin has been widely accepted. The launch of the Bitcoin ETF in the United States is a watershed moment.

When Eric Adams, the recently elected mayor of New York, takes office in January, he plans to collect his first three paychecks in Bitcoin. Is a showdown is on the horizon?

Video courtesy of Bloomberg