Both Russian President Vladimir Putin and U.S. President Joe Biden have expressed the need to regulate the cryptocurrency space within hours of each other, leading to wild speculation online.

While some are convinced that having some form of regulation, which could lead to stable altcoins, is the proper way to make sure the crypto space continues to expand, there are plenty who fear any type of regulation or oversight, as that goes against the initial allure of cryptocurrency.

The news comes as crypto across the board has crashed to levels not seen in years, dropping Bitcoin, Ethereum and more to drastic lows. It’s unknown what effect this new development will have on the market as a whole, especially after China’s crypto ban late last year.

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