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Regulators are slowly waking up to blockchain's unfulfilled promise

Revolutionary potential remains unrealized despite three boom and bust cycles

| Singapore
The logo of Terra on a smartphone screen: The borderless nature of cryptocurrency markets is likely to challenge regulators.   © NurPhoto/Getty Images

Kelvin Low is professor of law at the National University of Singapore.

The recent meltdown in the Terra and Luna cryptocurrencies, which saw the former supposedly a stablecoin pegged to the dollar depeg dramatically and the latter fall precipitously in value, has finally brought home just how risky cryptocurrencies are.

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