Reading Time: 2 minutes
Sam Bankman-Fried, the founder of FTX, believes that 2022 will provide a more transparent regulatory environment for cryptocurrency. This will allow for increased institutional adoption.
In a recent interview with Bloomberg, the well-known cryptocurrency strategist talks about the state of the industry, NFTs, crypto gaming, and FTX’s strategies for increasing its brand awareness. He was optimistic and passionate about everything.
“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.”
When asked how institutional adoption of cryptocurrency could increase, he replied, “A lot depends on exactly the regulatory front.”
Sam Bankman-Fried stated that the cryptocurrency industry had gained the respect and interest of regulators around the world.
He said, “a lot of different governments announced that they will be releasing regulatory frameworks over the next year.” As they are working on their regulatory frameworks for crypto.
Sam Bankman-Fried also believes that the government’s stance on cryptocurrency trading will help to increase its popularity, significantly facilitating entry by large investors.
“BASICALLY EVERY LARGE FINANCIAL INSTITUTION I’VE TALKED TO, EVERY LARGE BANK, EVERY LARGE INVESTMENT BANK, PENSION FUNDS, THEY’RE ALL EYEING THIS SECTOR.”
He said that he believes 2022 will be the start of a significant breakthrough in stablecoin regulations and likely a greater involvement by the SEC or CFTC. According to Bankman Fried’s predictions, 2022 will be even busier.
The crypto billionaire was asked to describe the combination of cryptocurrency, metaverse, and he pointed out the potential for NFTs within the gaming industry and the expansions of the metaverse.
“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.”
While he believes that it will take years for a legitimate crypto-gaming industry to develop, he doesn’t deny its potential to be a significant global industry.
By Abraham Aroloye
