Civic CEO: If the bitcoin bubble bursts, it will lead to a global recession

Civic CEO Vinny Lingham said recently that the cryptocurrency bubble is inevitable, and that if the large-scale bitcoin bubble bursts, it will lead to a global recession. It will cause a lot of negative concerns from governments and people around the world. In terms of regulation, Lingham believes that for smaller transactions, anonymity is acceptable; for larger transactions, privacy is more important than anonymity. He added: "In the long run, technology must conform to social rules. In the short term, society must cater to technological development."