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As the various individuals, corporate bodies, and governments worldwide continue to define whether they could adopt crypto institutionally and how, the founder of FTX exchange, Sam Bankman-Fried, has waded into the discussion.
SBF, as he is popularly known, argues that if there is enough clarity from regulatory bodies or individuals in every part of the world, it will fuel the rate at which crypto is institutionally adopted across the world from now on.
FTX boss Pushes for Crypto Regulatory Clarity
Friedman expressed his optimism during an insightful interview with Bloomberg on January 3. During the interview, the respected industry bigwig discussed issues ranging from Crypto regulations and institutional adoption to Metaverse.
He also clarified that even though financial markets globally closed the year 2021 in ways that could have been better, his optimism regarding crypto adoptions is also applicable to market performance this year.
“The things that make me optimistic basically are more regulatory clarity in the US and globally, which I think could help a ton on institutional adoption,” Friedman was quoted saying.
Speaking further on the issue of how regulatory clarity encourages more institutional growth in crypto, he argued that there is a huge likelihood that if crypto in certain jurisdictions feel like they’re getting regulatory clarity, then adoption could come in a tidal wave. Even though this sounds interesting, he noted that it would require a long procedure spanning different years.
Crypto Regulations Around the World
One of the most discussed issues in the crypto space is the issue of regulatory clarity around the world.
According to a recent IMF blog post, countries’ economies are at the risk of a crypto nation. In this situation, these digital coins “could replace domestic currency and circumvent exchange restrictions and capital account management measures.”
For this reason, the foremost financial body urged regulators to make sure that crypto regulations around the world were Comprehensive, Consistent, and Coordinated.
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