FTX CEO says crypto regulations are more likely in 2022

The CEO of FTX, Sam Bankman-Fried, has opined that 2022 will be marked by developing a clear crypto regulatory framework in the US and globally. Bankman-Fried noted that the wave of regulatory clarity would commence soon.

The CEO of one of the largest exchanges globally appeared in an interview with Bloomberg, where he talked about a wide range of issues, including the metaverse, non-fungible tokens (NFTs), regulations, crypto gaming and FTX’s strategies for the future.

FTX’s CEO optimistic about crypto regulations

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The CEO of FTX noted that the crypto sector had attracted the attention of regulators globally. In the US, the issue of crypto regulations has been addressed by the US Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), the US Congress and other government agencies.

Bankman-Fried said 2022 would be an even busier year for the crypto sector. According to him, if the government starts discussions on crypto regulations, it will promote crypto trading activities, triggering more investors to join the sector.

The executive stated,

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.

Regulatory clarity has also been addressed by other major players in the crypto sector, including Mike Novogratz, the CEO of Galaxy Digital, which has noted that regulations could boost crypto institutional adoption and trigger a bull run.

Bankman-Fried also talks about the broader crypto market

Bankman-Fried also addressed other issues in the broader cryptocurrency market. He noted that each financial institution he had talked with was interested in the crypto space and blockchain technologies.

He further noted that he expects to see the SEC and the CFTC work together for crypto regulations and bring regulatory clarity to stablecoins. He also mentioned that NFTs had much potential in the gaming sector.

“I think (we’ll be) starting to see digital assets make an appearance there (in the metaverse). I expect that’s going to happen in the next few years,” he stated.