In the world of crypto regulation, Germany’s financial watchdog, the Federal Financial Supervisory Authority (BaFin), is taking on the role of an air traffic controller. Rupert Schaefer, a notable presence at BaFin, has garnered attention by drawing a comparison between the necessity for regulation and the challenges of managing unidentified flying objects (UFOs).

With a nod to the strange and uncharted territories of the crypto market, Schaefer compellingly argues that just as passengers depend on orderly air traffic for their safety, the digital currency sphere requires firm regulatory guidance to avoid turbulence.

Schaefer emphasized that that just as passengers’ safety relies on orderly air traffic, the stability of financial markets depends on well-structured regulations in the …