If you are one of those anarchists who see cryptocurrencies as an anti-establishment weapon, this might be uncomfortable for you. FTX CEO Sam Bankman-Fried expects a wave of regulatory action from 2022 – and that, from his perspective, is a great thing.
In an interview for Bloomberg, the famous cryptocurrency strategist shared his thoughts on the industry’s regulatory landscape, the state of NFTs, crypto games, the metaverse, and FTX’s strategies to increase awareness of his business. Brand.
And overall, Sam Bankman-Fried is very optimistic about it.
Cryptocurrency Regulations: A Slow But Life-Changing Business
Sam Bankman-Fried assured that the cryptocurrency industry, in general, has managed to gain the interest and respect of regulators around the world. Political efforts to address this issue in Congress, the SEC, CFTC and other government offices are a sign of this progress.
And 2022 will be even busier in this regard, according to Bankman-Fried’s expectations.
As a good CEO of a cryptocurrency exchange, Sam Bankman-Fried believes that the government’s position will serve to boost cryptocurrency trading, making it much easier for large investors to enter.
“I’m bullish about it (the price of Bitcoin), and the things that make me bullish are fundamentally (related to) greater regulatory clarity in the US and around the world, which I think could help a ton and institutional adoption. And I think these are also related to each other.
This view has also been shared by other leading cryptocurrency analysts and investors. One such example is Mike Novogratz, CEO of Galaxy Digital, who has warned of the impact of bad crypto-related policies, repeatedly voicing the importance of attracting institutional capital to fuel a new bull race and promote a more robust industry.
But Sam Bankman-Fried sees the process as gradual rather than a sudden event. He explained that he doesn’t see anything obvious in the next 3-6 months, but rather expects it to be a slow process that will stretch over a few years.
Sam Bankman-Fried talks about the wider crypto space
Sam Bankman-Fried also touched on other important points during his interview. He mentioned that almost every financial institution he spoke with is interested in entering or exploring the cryptocurrency and blockchain technology space.
He also said he expects 2022 to mark the start of a significant breakthrough in stablecoin regulation and likely greater involvement of the SEC and CFTC.
He also spoke about the potential of NFTs in the gaming industry and the expansion of the Metaverse. He believes it will take years for a crypto-gaming industry to develop, but he doesn’t deny the potential for it to grow into a major global industry:
“I think (we’re going to) start to see digital assets popping up there (in the metaverse). I expect this to happen in the next few years.
For Sam Bankman-Fried, Meta (which is nothing more and nothing less than a metaverse-focused rebranding from social media giant, Facebook) will be a catalyst for that growth. However, he expects activity around NFTs as we know them today to calm down a bit before the major players start entering.
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