The partner director at 'X-pay', Dr. Mohamed Abdel Motaleb, announced that the cryptocurrency market witnessed the beginning of a downward trend in the first quarter of this year before most other financial markets. He explained that this trend was driven by two main factors. The first is the hope for clear and suitable legislation for cryptocurrency activities, which has not yet been achieved. The second factor is the global conditions that contributed to creating a state of uncertainty and risks in the markets, including the digital currency market.

At the end of his speech, Dr. Mohamed Abdel Motaleb emphasized the necessity of issuing clear legislation to regulate the cryptocurrency market, pointing out that the absence of such legislation leads to a state of chaos and instability. He also stressed the importance of effective oversight to enhance investor confidence and increase market size. #CircleIPO $XRP