Binance Suspends Withdrawals and Deposits in Brazil Following New Central Bank Policy. Ironically Crypto regulation is Integral to Crypto Mainstream Adoption.

Binance halted deposits and withdrawals in Brazilian reals via the government's Pix payment system. In a statement, the business said it had ended its cooperation with Capitual, a local payment gateway that had been handling Binance's payments and withdrawals via Pix for the previous year and eight months.

Binance advised users on its platform that deposits via Pix are experiencing volatility as a result of a regulatory change by the Central Bank of Brazil (BC), but did not provide any details. The service outage occurs as the BC's deadline for Pix providers to implement new KYC (know your customer) regulations approaches. "Binance will replace Capitual with a local payments supplier with substantial experience, which will be announced soon," the business said, adding that it will sue Capitual.

Source: Coindesk

I think that the next phase of the development for cryptocurrencies would be determined to a large extent by how global crypto regulations shape out. Regulations could either help accelerate the general public use of cryptocurrencies or could hinder their mainstream adoption or outright bans like we have seen happen in Nigeria and China. I think it is best the stakeholders of the crypto ecosystem and platforms lobby with government institutions in order to ensure that the interest of the crypto ecosystem are protect to a good extent as regulatory frameworks are put in place.

I think that the future of society is intertwined with the future of cryptocurrency, blockchain technology and web3. The blockchain/ crypto ecosystem is gradually developing gradually becoming a essential component of our civilization and blockchain technology adds a layer of trust and security to a variety of sectors to which it is adopted. Apart from being a modern type of art collection, NFTs have the potential to change ownership of both digital and physical assets. DEFI has the ability to transform our financial system, adding a layer of transparency while also lowering transaction costs. Popular platforms like Meta and YouTube have announced plans to integrate NFTs into their systems, while the Tok Lok app, possibly the most secure massaging app ever, uses encryption to ensure that users' communications are secure.

We have seen Binance increasingly obtain regulatory licenses to further it's global expansion which although places Binance subject to these rules sets out in the licenses and their regulatory bodies, it however necessary for bringing Binance and crypto it self a larger demographic of everyday citizens.
If we are to see cryptocurrencies become mainstream to the extent that are means of daily exchange they might first need to be first subject to regulations.