2022 Will Be a Year of Regulatory Clarity for the Crypto Industry, Believes FTX CEO
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Crypto Regulation Could Play Key Role This Year
Speaking to Bloomberg, SBF highlighted that the incredible rise in interest for cryptocurrencies and spectacular volatility in their prices has caught the notice of regulators and that 2022 would be an extension of the ongoing discussions around crypto regulations.
According to him, regulations have the potential to make the market much safer. Overall, this is a good thing for crypto investors as safer markets mean more public confidence, which often means prices go up over time.
“I’m optimistic about it (the price of Bitcoin), And the things that make me optimistic basically are (related to) more regulatory clarity in the US and globally, -which I think could help a ton- and institutional adoption. And I think those are also related to each other,” he said during the interview.
However, regulations concerning cryptocurrencies will be a gradual process rather than a sudden event, according to him. He doesn’t see anything related to it during the next 3 to 6 months but instead expects to be “stretched out” over a few years.
Furthermore, he expects that 2022 will see a significant breakthrough in stablecoin regulations with greater involvement from America’s top financial regulators-the Securities and Exchange Commission (SEC) and the Commodity and Futures Trading Commission (CFTC).
The 29-year billionaire also spoke of the potential for NFTs in the gaming industry, and the expansion of the metaverse. While he believes that the concept of crypto-gaming will take years to grow, it has the potential to become a global major industry.