O CEO of FTXSam Bankman-Fried, again called for regulation of digital assets, arguing that the adoption of cryptocurrencies by institutions has been slow, as the regulatory certainty of this industry is seen as fundamental for many companies.
In an interview with Yahoo Finance on Tuesday (22), the CEO of FTX said that “we are certainly seeing institutions getting involved in the crypto market, but so far it has been something akin to a trickle rather than a deluge.”
According to the Business Insider website, cryptocurrencies have been in the spotlight during the coronavirus pandemic, especially after billions of dollars have been invested in the market by big names such as JPMorgan (JPMC34), Goldman Sachs (GS) and Fidelity Investments.
Despite the entry of these companies into the crypto market, the comments of the CEO of the crypto exchange suggest that the trend of cryptocurrencies between companies appears to be bearish, as they want to ensure a concrete plan before making important decisions in this volatile market.
“We haven’t seen massive institutional capital inflows in the way that some people are expecting,” said Bankman-Fried.
“I believe there is a long wait for regulatory certainty before these companies feel comfortable [em adentrar o mercado cripto]”, added the CEO of FTX.
The US President’s Government Joe Biden is expected to issue an executive order on cryptocurrencies later this week as a matter of “national security,” according to Business Insider.
The order is expected to cover topics related to the impact of Bitcoin (BTC) in the dollar as a global reserve currency, the difficulty of tracking cryptocurrency wealth for tax purposes, and the use of Bitcoin in ransomware attacks.
However, opinions among US government politicians on cryptocurrencies are also divided. Therefore, market analysts expect the US Congress to take a certain break before dealing with any legislation related to the matter.
Source: Moneytimes
I am an author at Global happenings and I mostly cover automobile news. In my time working in the automotive industry, I have developed a keen interest in the latest developments and trends. My writing skills have also allowed me to share my knowledge with others through articles and blog posts.
