TL;DR Breakdown
- 2022 to bring clarity to crypto regulation.
- Good cryptocurrency regulation would bring about improved crypto industry says FTX CEO.
- NFTs, Stablecoin, Metaverse, to become major industry eventually.
Founder and CEO of FTX exchange Sam Bankman-Fried has said that in 2022, a more clear regulatory environment would be accommodated in the crypto space in the United States and other countries.
During an interview with Bloomberg, the CEO said this as he discussed the crypto space, regulation, NFTs, crypto gaming, the metaverse, and FTX’s strategies to raise its brand awareness.
During the interview, he assured that the cryptocurrency industry has managed to gain the interest and respect of regulators around the world. He ascribed political discussion around cryptocurrencies, regulators (SEC, CFTC) as a sign of progress for the industry.
He said 2022 would be busier for all these categories of people regarding cryptocurrencies.
How government involvement would help boost crypto space
Speaking as a CEO of a government-compliant crypto exchange, he said he believes government involvement would help boost cryptocurrency trading, significantly facilitating the entry of large investors.
“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.
Mike Novogratz, CEO of Galaxy Digital, is in agreement with this point. He has been at the front of clamoring about good crypto policies to attract institutional capital to fuel a new bull run and promote a more robust industry.
NFTs, Stablecoin, Metaverse in 2022
Bankman-Fried confirmed that many financial institutions are open to exploring the crypto space and blockchain in 2022.
He also said he expects that 2022 will mark the beginning of a significant breakthrough in stablecoins regulations and likely a greater involvement of the SEC and CFTC.
He also spoke of the potential for NFTs in the gaming industry and the expansion of the metaverse. He believes that a proper crypto-gaming industry will take years to grow, but he does not deny its potential to become a major global industry.
