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In 2022, crypto regulation will gain clarity, said Bankman-Fried

 


Regulators in different parts of the world are turning their attention to the cryptocurrency space thanks to the market rally last year.


FTX crypto exchange CEO Sam Bankman-Fried told Bloomberg in a recent interview that this year will be a year of regulatory clarity for the cryptocurrency industry. He assumes that the market will gain further regulatory clarity in the next few months.


Bankman-Fried said the cryptocurrency space has drawn the attention of regulators around the world in recent years, a sign that the market is growing. He added that there was an ongoing political effort to raise the issue of cryptocurrencies in the United States Congress, the Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC).


According to the FTX CEO, it's a good thing that there are so many government agencies involved in the crypto space, and this year is going to be even busier for regulators. He stressed that regulatory clarity would lead to further institutional adoption of cryptocurrencies. 


“I'm optimistic (about the price of bitcoin), and the things that make me optimistic are essentially (about) more clarity on regulations in the US and around the world - which I think could be very helpful - and institutional adoption. And I think these things are related too, ”  he added.


However, Bankman-Fried said he didn't expect anything on the regulatory front in the next few months. He believed this would be a gradual process and it would take a few months for the market to see any movement from regulators.


Bankman-Fried told Bloomberg's Emily Chang that he was very optimistic about Bitcoin's performance in 2022. He claimed that it was virtually impossible to determine how Bitcoin will perform in the coming months. However, he's optimistic that the leading cryptocurrency will hit $ 100,000 before the end of the year.


The FTX CEO also expects more coins in the Metaverse area in the next few months:


“I think (we will) start to see digital assets pop up there (in the metaverse). I assume that this will happen in the next few years. "

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