FTX CEO Sam Bankman-Fried, expects new regulations in 2022

FTX CEO Sam Bankman-Fried, expects new regulations in 2022

Will 2022 be the year of cryptocurrency market regulation? This is what the CEO of one of the largest exchanges of digital assets in the world believes. In his opinion, they are not a threat, but an opportunity.

A clear stance

Sam Bankman-Fried is one of the leading figures in the crypto market. As a director of the FTX exchange, he is increasingly involved in discussions about the upcoming and, in his opinion, necessary regulation of the market. Taking advantage of the fact that a new year has begun, Bankman-Fried decided to offer his vision of how it will most likely go. 

According to Bankman-Fried, the cryptocurrency-related events taking place in 2021 were merely preparatory works for the 2022 regulations. He also notes that institutional investors are even waiting for clear and transparent market regulations, because only then they will be able to join it without any fear.

In an interview with Bloomberg, he gave a clear signal that once institutional players witness a clear regulatory move, the amount of investment in the crypto sector can work like a ripple effect.

To quote his words:

“I’m optimistic about the future of Bitcoin, I’m optimistic that countries like the United States will move towards greater regulatory clarity for cryptocurrencies. If this industry has clear regulations, I think that will help a lot in attracting investment capital from institutions.”

Not everything will happen right away, however. Regulatory processes are most often stretched out over time. This makes actions that take effect in the current year, he believes, likely to take several more years.

When asked what his predictions are for the institutions that are about to enter the market, he made it clear that everyone is already interested in the market. Bankman-Fried believes that every major player has already done a review of the opportunities in the crypto space. In doing so, he has paid considerable attention to banks and financial institutions. 

The buzzword “regulation” does not have a positive reputation. Is it rightfully so?

For many people investing in crypto assets, regulations are associated in a negative way. They are sometimes synonymous with restrictions and taking away freedom. Often, however, the intention of introducing regulations by a country is completely different. Regulatory foundations provide clear investment principles, according to which large capital can move. The problem is regulatory ambiguity, which often causes market confusion. We are currently witnessing a similar situation in India, where the government is working on regulations for the cryptocurrency market. As long as they are not enacted, it will not be clear whether cryptocurrencies in India have at least the status of legal ones.

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

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